LIVE: Demonetising Rs 500, 1000 notes a very bold step to fight black money, says RBI

Earlier, in his first televised address to the nation, Prime Minister Narendra Modi announced demonetisation of Rs 1000 and Rs 500 notes with effect from midnight.

By: Express Web Desk | New Delhi | Updated: November 9, 2016 12:07 am
urjit patel, rbi, rbi governor RBI Governor Urjit Patel. (Express Photo/Ganesh Shirsekar)

Prime Minister Narendra Modi on Tuesday announced demonetisation of Rs 1000 and Rs 500 notes with effect from midnight, making these notes invalid in a major assault on black money, fake currency and corruption.

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.

After Modi’s address to the nation, RBI governor Urjit Patel and Secy. Department of Economic Affairs Shaktikanta Das are addressing a press conference.

 

nishantshekhar1 November 8, 20169:44 pm

There will be no impact on the liquidity on the wholesale markets. If at all there is any, we’ll make sure that its addressed: Urjit Patel

nishantshekhar1 November 8, 20169:44 pm

We will review the situation after 24 Nov, new notes will be in circulation from 10 Nov: Shaktikanta Das on withdrawing Rs 4000 till 24 Nov

nishantshekhar1 November 8, 20169:44 pm

If someone is receiving Rs 1000 & Rs 500 notes after tonight, he is doing it at his own risk: Shaktikanta Das

nishantshekhar1 November 8, 20169:43 pm

This is necessary in medium & long term interest of our economy, it will help in maintaining financial & economic integrity: Shaktikanta Das

nishantshekhar1 November 8, 20169:34 pm

Control room to be set up in RBI and Finance Ministry to monitor situation: Shaktikanta Das, Secretary Economic Affairs

nishantshekhar1 November 8, 20169:33 pm

Other denomination currency notes will be printed in due course: Shaktikanta Das, Secretary Economic Affairs

nishantshekhar1 November 8, 20169:32 pm

RBI will release new currency notes with new features,designs and dimensions from 10 November onwards: Shaktikanta Das

nishantshekhar1 November 8, 20169:31 pm

nishantshekhar1 November 8, 20169:24 pm

nishantshekhar1 November 8, 20169:23 pm

We have increased our production and trying to provide new currency notes as soon as possible: Urjit Patel

nishantshekhar1 November 8, 20169:19 pm

It’s a very bold and decisive step to demonetise Rs 500 and 1000 currency notes: Patel

nishantshekhar1 November 8, 20169:17 pm

RBI has been concerned about growing menace of fake Indian currency notes which has been increasing in numbers: Urjit Patel