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New 500 And 2,000 Rupee Notes Will Be Issued
The Reserve Bank of India will issue new notes for Rs. 500 and Rs. 2000. Executive Narendra Modi in his deliver to the country on Tuesday said that the notes will be flowed soon, RBI has chosen to restrict the notes with higher esteem.The Prime Minister reported that Rs. 500 and Rs. 1,000 group notes are being pulled back from midnight. He said that such notes will get to be “unimportant paper”.
PM Modi said this was being done to handle the danger of dark cash in the nation, which has sapped the economy.He likewise said that ATM withdrawals will be limited to Rs. 2,000 every day till November 11, when this point of confinement might be expanded gradually.The Prime Minister said that the Rs. 500 and Rs. 1,000 section notes can be kept in banks and post workplaces, furthermore traded over the bank counter by demonstrating government provided ID confirmation.
Withdrawals from financial balances will be restricted to Rs. 10,000 for the initial few days.Banks have additionally been requested to stay close on Wednesday, he said.PM Modi said that for medicinal patients, the old notes will be acknowledged.He likewise said that retail petrol pumps will acknowledge such notes till November 11, after which the stations will need to keep an enroll of such notes for quite a while. The choices come after a bureau meeting.