People who celebrate the new of Demonetised Rs 500 and Rs 1000 Notes??????
PM Narendra Modi made one important announcement to fight from black money. PM Modi eliminates the notes of Rs 500 and Rs 1000 denominations on Tuesday 8th November 2016. But does not have any change in other notes. PM Narendra Modi said that “they will only print Note of Rs 500 and Rs 1000”. That’s way PM Modi only Demonetised Rs 500 and Rs 1000 Notes. In addition, he also announced that the ATM will not work on 9th November and 10th November. That’s way I also discuss why Rs 500 and Rs 1000 Demonetised, What to do with those note. In addition, the government will also announce the new notes of Rs 500 and Rs 2000.
Why PM Modi Demonetised Rs 500 and Rs 1000 Notes???????????
PM Narendra Modi said that he took this decision to fight from the curb black money, terrorism and also fight from some illegal activities. Pm Modi took this decision to counter the black money corruption and hoarding. Through collecting those notes to RIB, they can count the amount of black money, real property of some richest people who cheat the income tax officer and also many other things are come out, because of this step.
There no restriction on the notes of Rs 100, Rs 50, Rs 20, Rs 10, Rs 5, Rs 1 and also on one coins. In addition, you can also continue with other transaction for example cheque, electronic funds transfer, card payment, demand draft. But, there is a restriction on weekly and also every withdrawal. RIB will restrict withdrawal from ATM to Rs 2000 every day. Also, the bank account withdrawals will be restricted to Rs 10,000 for day and Rs. 20, 000 for a week.
What to do with Demonetised Rs 500 and Rs 1000 notes???????
You all can exchange the this Demonetised Rs 500 and Rs 1000 notes at any bank or post office to exchange the those you must show your Id proof. In addition, Petrol pumps, CNG gas station and also government hospital will also accept the Demonetised notes of Rs 500 and Rs 1000. You can exchange notes till midnight of 11th November 2016.
Time Limit to exchange Demonetised Rs 500 and Rs 1000 notes
You all can deposit those notes from 10th November to 30th December 2016, you have 50 days to deposit that money. In addition, you can also exchange those notes for low denomination notes or currency instead of deposit those note in bank or post office. To exchange notes, everyone must have valid ID proof for example Aadhaar card, Election card or PAN card. And also the valid limit of every day is Rs 4000 only.
Due to abolish the Ban on Rs 500 and Rs 1000 notes, lots black and corrupted money will expose in front government and public. So, those currencies will go the people really need this money and who is the real owner of this money. That’s way many people celebrate the denominations of 500 and Rs 1000 notes.