War on Black Money Live | Move to Scrap Rs 1,000 and Rs 500 Notes Will Help in Long Run, Says RBI

Currency notes of Rs 500 and Rs 1,000 won’t be valid from midnight, PM Narendra Modi says in an address to the nation.

“Currency notes of Rs 1000 and Rs 500 will be just paper with no value,” the PM says.

Modi says the citizens’ money will be safe as they can deposit the notes in the bank before December 30, 2016.

“People can deposit notes of Rs 1,000 and Rs 500 in their banks from November 10 till December 30, 2016,” says PM.

All other coins and notes to be continued.