In an extraordinary step to tackle the scourge of black money in the country, Prime Minister Narendra Modi on Tuesday
In his first televised address to the nation, Modi said people holding notes of Rs 500 and Rs 1000 can deposit the same in their bank and post office accounts from November 10 till December 30. He explained that the currency notes will be just paper with no value.
“Notes of Rs 2000 and Rs 500 will be circulated soon, RBI has decided to limit the notes with higher value,” he added, saying some ATMs in the country may not function on November 9 and 10.
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