Everything about Narendra Modi's Surgical Strike on Black Money!

Everything about Narendra Modi’s Surgical Strike on Black Money!

2 min

Prime Minister Narenrda Modi, just announced the discontinuation of Rs. 500 and Rs. 1000 Currency Notes in India. This step is merely taken to flush out all the black money hidden in India. This will be taken into effect from Midnight 09th November, 2016. Rs. 100 will be the biggest note in the wallet of any person’s wallet for couple of weeks. So basically from tonight, Rs. 500 and Rs. 1000 notes would be legally banned for transnational purpose.

This step is called as ‘Shuddhi Karan’ by Modi, as he is genuinely trying to remove all the corrupt and fake money present in India before 2017.

So here are all the things, you need to know about Modi’s surgical strike on Black Money!

1. 500 & Rs. 1000 notes will be discontinued from 12 AM, 09th November.

2. Hospitals are allowed to take Rs. 500 and Rs. 1000 notes tonight from patients.

3. Medical stores in hospitals are also allowed to take Rs. 500 and Rs. 1000 notes for transaction purpose.

4. 100 note will be the dominant till 31st December, 2016.

5. All the 500 and 1000 notes can be exchanged from bank or post offices in a period of 50 days, i.e. till 30th December, 2016. Such notes will be accepted without any question. The limit for this is Rs. 4000 up to 24th.

6. You can deposit any amount in bank using old notes. There’s no limit on credit transactions in bank.

7. New notes of Rs. 500 and Rs. 2000 will be made available in the market from 11th November.

8. There will be a limit on withdrawal of Rs. 10,000 per day and Rs. 20,000 per week. This limit will be increased in the upcoming days.

9. No restriction of any kind on non-cash payments by cheques, demand drafts, debit or credit cards and electronic fund transfer.

10. On 9th November and in some places on 10th November also, ATMs will not work. In the first few days, there will be a limit of Rs. 2000 per day per card. This will be raised to Rs. 4000 later.

This basic reason for this step, is to end corruption in India and remove all the fake notes present in India. There is not so much suffering because of this, we the citizens of India can adjust a little for the ‘Achche Din’ we were questioning him about! This step is the best thing a person could do, and PM Modi did what no one could ever think of doing.

No worries though, New notes of Rs. 500 and Rs. 2000 are into process, with a completely new designs, that could not be copied.  Major security steps are being taken for the new notes to be designed and will be soon into circulation, and the designs are already out! Trust us; this is for the betterment of our country.

Help our Prime Minister in his Major Shuddhi Karan, Help save India.

Bye Bye Rs. 1000 note.

You don’t think that ‘Shuddhi Karan’ is for good? Or not the thing one would wish for? Share your views in the comments section below!

Sanjay Khubchandani
Loves Everything, except Humans.