Brand new currency notes of Rs 500 and Rs 2000 will be issued by the Reserve Bank of India (RBI). Prime Minister Narendra Modi on Tuesday addressed the nation and announced that the new notes will be circulated soon.
The Reserve Bank of India will limit the notes with higher value. Rs 500 and Rs 1000 denomination notes are being withdrawn from midnight, saying such notes will become ‘mere paper’.
Prime Minster said the move has been taken to tackle the menace of black money in India as it has sapped the economy.
In Pics: New Rs 2000 Note that will be issued pic.twitter.com/4NXhNOpxxA— ANI (@ANI_news) November 8, 2016
In Pics: New Rs 500 note that will be issued pic.twitter.com/N51HDChDs3— ANI (@ANI_news) November 8, 2016