November 9, 2016

BANNING OF Rs500 AND Rs1000 NOTES



India Banned Rs 500, 1000Rs Notes From Today




Prime Minister Narendra Modi has called an emergency address speech, where he revealed to the country that 500 and 1000 rupee notes are to be discontinued from midnight today from 9/11. I know how difficult decision it is but it is true and will be a staunch decision of striking off usage of 1000 and 500 Rupee notes currency in India. This decision has been made by the present government under the PM who says, IMF and World Bank states India is an economic star now.
Every citizen will be allowed to withdraw 2,000 Rupees from Bank or ATM per day and 10,000 per week starting from 10th Nov 2016 as per RBI Mumbai Notice which seems to be less. This ban on notes can be the major strike on hoarders, terrorists, tax evaders and fake currency.
Why India Banned 500 and 1000 Rupee Notes
1000rs banned notes
India has made a strict decision of banning regular 500 and 1000 rupee notes from circulation which is a result of finding 1.25 lakh crore black money. The Indian government believes that by taking this decision we can hit black markets down and you would be the least circulation of black money and fraud would not take place.

Instead of 500 and 1000 Rupee notes, RBI will be issuing 2000 rupee notes which will be a regular currency circulation over India.

All those people who are worrying what to do with the stacks of 500 and 1000 notes, need not to glaze and run punching on the government. Because they have released a statement saying that all the remaining 500 and 1000 rupees notes are to be deposited at nearby Post Offices & Banks.
Well, Indian finance is sure going to face chaos by the demoing plans of our beloved Prime Minister Narendra Modi. So, most of you might be wondering what more topics have been discussed and stated during this speech. So I have posted all of them below.
• Sab ka sarkar, sab ka Vikas – governance and progress for all are our motto. We are focused on the empowerment of the poor. A series of schemes we have introduced all aim at this. This is a government for our farmers.
• Corruption and black money are diseases rooted in this country, they are obstacles to our success.
• We are among fastest-growing economies, but we also rank so high in global corruption rankings.
• Terror strikes at the innocent. Who funds these terrorists? Across the border, our enemy uses fake currency and dodgy funds to sponsor terror – this has been proven repeatedly.
• When you elected this government in 2014, the world was talking about India being shaky economically. But India is now an economic star – this is what IMF and World Bank are saying.
Commoners over social media networks like Facebook and Twitter has started hailing the decision made by Indian government Prime Minister Narendra Modi. But Modi government has to take necessary steps to circulate money correctly especially to farmers and poor unskilled workers who do not have any bank accounts.SOURCE--HOTSTARAPP

Related Articles

1 comment:

  1. Though, initially, we have to face some problems, but this is for greater good. Well explained, Sir...

    ReplyDelete

Follow by Email