Once again PM Modi has shown how little he cares about ordinary people: Rahul Gandhi on currency ban
In A Televised Address, Prime Minister Narendra Modi Announced That These High Denomination Notes Will Cease To Be Legal Tender From Tuesday Midnight.
The government surprised the nation on Tuesday by making Rs 500 and Rs 1,000 bank notes illegal from midnight.
In a televised address, Prime Minister Narendra Modi announced that these high denomination notes will cease to be legal tender.
Read: How to exchange banned Rs 500 and Rs 1000 notes: Frequently Asked Questions
Modi also announced a slew of measures for the smooth transition of the unprecedented currency overhaul.
The monetary authority Reserve Bank of India (RBI) too posted a 25-point detailed Frequently Asked Questions or FAQs explaining the rationale behind the move along with the process to exchange banned currency for valid notes.
Read: Rs 500, Rs 1000 banned: What will banks do to make currency transaction smooth
Here are the live updates:
#One Q for the PM: How is replacing 1000 rs notes with 2000 rs notes going to make black money hoarding a lot harder? :Rahul Gandhi
#While the real culprits sit tight on their black money stashed away abroad or in bullion/ real estate.Well done Mr Modi: Rahul Gandhi
#Once again MrModi shows hw little he cares abt ordinary ppl-farmers,small shopkeepers,housewives-all thrown into utter chaos: Rahul Gandhi
#There should be no panic and chaos situations should be avoided, We should all work together to make it a success: Dharmendra Pradhan
#Every petrol pump will accept notes of Rs 1000 & Rs 500 till 11 Nov, I appeal all to kindly coordinate: Union Minister Dharmendra Pradhan
#It pays to be honest, those having black money are worried: Fin Min
#Finance Minister Arun Jaitley clarifies all on Currency Ban in TV interview
#Pak prints Indian currency more than they print their own, this currency ban by PM Modi will curb terror funding: Nirmal Singh, J&K Dep CM
#We support the decision taken by PM Modi and appeal entire country to participate in this initiative: Union Minister, Ravi Shankar Prasad
#There will be some difficulty that people will face initially, but govt has adopted proper measures to help them: Ashok Lavasa, Finance Secy
#People need money to make big transactions, that is why Rs 2000 note is introduced: Ashok Lavasa, Finance Secretary
#The intention is to curb black money, market would have reacted to any development in same manner, so lets wait: Ashok Lavasa, Finance Secy
#Petrol pumps shut down in parts of Lucknow in UP as tjhousands attempt to spend banned currency by filling vehicle tanks
#Massive jam in Gurgaon at toll gates as people try to use banned currency notes to get back home
#We appreciate the initiative taken by Modi govt for scrapping the currency notes of Rs 1000 & Rs 500: Bihar CM Nitish Kumar (Watch full byte here)
#Sharemarket tumble is unrelated to currency ban, market work is cashless: Ashish Chouhan, MD & CEO BSE
#Markets open, Sensex down over 1500 points and Nifty down over 500 points
#Indian markets open with heavy loss, Sensex tanks 1300 points
#This demonetisation is attempted as a gimmick to divert attention from serious social and political failures of this govt in past 2.5 years. Complete #Jumlanomics: CPI (M) general secretary Sitaram Yechury
#Not well thought out, needs to be withdrawn quickly in the next few hours or days: TMC's Derek O'Brien on scrapping of Rs 500 and 1000 notes
# Now instead of bringing back money from illegal accounts abroad, this is putting the common man under pressure :TMC's Derek O'Brien
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