Rs 500 and 1000 notes Now closed from midnight: PM Modi
As per Express Web Desk Updated: November 8, 2016 pm
Live update of PM Narendra Modi's address to the Nation. Corruption, terrorism, black money weakening the nation. Stay with us for the latest news and live updates from PM Modi's speech.
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| Rs 500 and 1000 notes Now closed from midnight: PM Modi |
Prime Minister Narendra Modi talked about fighting corruption and black money during his address to the nation on Tuesday. In a major step to check black money, the prime minister announced demonetization of Rs 500 and 100 currency notes. He said the government has been fighting the menace of black money and corruption ever since it assumed power two years ago.
Earlier in the day, he met Chiefs of Army and Navy Staffs and Vice Chief of Air Staff, who came to brief him on the security preparedness of the forces manning the border outposts. National Security Advisor Ajit Doval was also present during the briefing. During the meeting, the Prime Minister is understood to have taken stock of the situation along the Line of Control (LoC) and International Border where Pakistan has been regularly shelling military posts as well as civilian areas.
The Reserve Bank of India (RBI) on Tuesday said it will shortly put into circulation banknotes in the denominations of Rs 500 and Rs 1,000 incorporating three new/revised features.
The Reserve Bank of India (RBI) on Tuesday said it will shortly put into circulation banknotes in the denominations of Rs 500 and Rs 1,000 incorporating three new/revised features.
The features will include ascending size of numerals in the number panels, bleed lines and enlarged identification mark, it said.
The RBI had recently put into circulation RS. 500 banknotes with numerals in ascending size in number panels, but without bleed lines and enlarged identification mark. It has now added two more features to aid the visually impaired in easy identification of banknotes, apart from securing them against counterfeiting.
“The current banknotes will be without inset letter in the number panels. The notes will bear signature of Raghuram G Rajan, Governor. The year of printing (2015) appears on the reverse. Except for these features, the overall design of Rs 500 and Rs 1,000 banknotes have been retained,” the central bank said.
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