Rs 500 and 1000 currency notes abolished: These are the new ones

The news comes days after Twitter was buzzing with photos of bundles of currency notes of Rs 2,000 that were being shared with the idea that the Reserve Bank of India might be issuing them into the market soon.

By: Express Web Desk | New Delhi | Updated: November 9, 2016 8:59 am
759 Picture of a purported Rs. 2000 note.

In what can be seen as an unprecedented move by Prime Minister Narendra Modi, during a special address to the nation, he announced that currency notes of Rs 500 and Rs 1,000 denominations will be illegal starting 12 midnight on November 9. That is not even four hours after the surprising announcement was made.

“Currency notes of Rs 1,000 and Rs 500 will be just paper with no value,” Modi said.

WATCH VIDEO: Rs 500, Rs 1000 Will No Longer Be Legal, Says PM Narendra Modi

The move comes as a strike against the hoarding of black money. “A few people are spreading corruption for their own benefit,” he said, adding that “corruption and black money is (sic) something we have fought for immediately after assuming office…There is a time when you realise that you have bring some changes in society, and this is our time to feel the same.” It was then that he announced that the Rs 500 and Rs 1,000 notes will be deemed illegal starting midnight.

The news comes days after Twitter was buzzing with photos of bundles of currency notes of Rs 2,000 that were being shared with the idea that the Reserve Bank of India might be issuing them into the market soon. Quite obviously, given the PM’s announcement today, that is probably not a possibility any more.

WATCH VIDEO: Here What You Can Do With Old Rs 500, Rs 1000 Currency Notes

According to news agency ANI, here is how new Rs 500 and Rs 2000 denominations look like.

 

The announcement was met with immediate shock and confusion across social media, with people tweeting out their confusion at the sudden step. Most poeple wanted to know why this step was take, while others lauded the PM’s effort to counter black money hoarding and corruption. Some even proposed ‘auctioning’ their ‘rare collectors Rs 500 note from 2016 AD Modi era for Rs 10,000’.

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First Published on: November 8, 2016 9:13 pm
  1. T
    Tanmay mishra
    Nov 8, 2016 at 7:16 pm
    I am fan of Modi ji
    Reply
    1. T
      Tanmay mishra
      Nov 8, 2016 at 7:15 pm
      Very good movement by modi ji. I like os very much and I am not fan of modi ji. Sir you a best pm
      Reply
      1. T
        Tanmay mishra
        Nov 8, 2016 at 7:16 pm
        You à great pm
        Reply
        1. P
          Pertama Chaudhry
          Nov 9, 2016 at 3:46 am
          It is good to have this clean-up of dirty money, but the "swachch Bharat" logo on the notes is just too much. The notes look like BJP pamphlets now. Wonder if the baniyas will support Modi now.
          Reply
          1. A
            Arun
            Nov 9, 2016 at 2:50 am
            Modiji Tusi Gr8 PM ho ! Ye asali surgical strike hai kale paisepar! .Tera Jabab Nahi !
            Reply
            1. D
              Dash
              Nov 8, 2016 at 4:47 pm
              Congress party is opposing the move. Lame excuses by corrupt Cong. shows that it is worried. This antinational party has thousands of crores of money with it. The desperation of Cong. party says a lot. CPM too is opposing ths move. Mayawati,Sharad Pawar,Mulayam and many Cong. leaders must have been shocked bt this bold move. Modi must be congratulated for this bold move.
              Reply
              1. A
                arun dass
                Nov 8, 2016 at 4:58 pm
                very very good move by modi-saheb
                Reply
                1. C
                  chattoo
                  Nov 9, 2016 at 4:56 am
                  1978 banning of 1000 ,5000 and 10000 notes didn't curb black money. Black money is not liquid. Even a child knows that.lt;br/gt;lt;br/gt;For curbing black money , if the government is really serious , political parties should be forced to deal in electronic transactions only , no exception allowed. So long as this is not done , everything else is a sham., only to win some visibility before UP elections.
                  Reply
                  1. I
                    Indian
                    Nov 8, 2016 at 8:10 pm
                    Disappointed to see the pictures of hi on new notes they should be replaced with likes of shaheed baghat Singh to inspire people with true patriotic feel good lt;br/gt;No one wants to be reminded of hi who's stubbornness divided this country millions lost their lives and livelihoods and we are still paying the price of this.
                    Reply
                    1. K
                      K Chatterjee
                      Nov 8, 2016 at 7:06 pm
                      Make all cash transactions above ₹1000/- illegal. IMPS has come of age. With more safety features and illeterate friendly devices, it can replace currency notes altogether.
                      Reply
                      1. S
                        Subhajit Mondal
                        Nov 9, 2016 at 6:37 am
                        Good dicition
                        Reply
                        1. A
                          Ashok Mazumdar
                          Nov 8, 2016 at 4:06 pm
                          *Make only Rs 2, 5, and 10 as Valid Tender.lt;br/gt;Rest all Illegal.*lt;br/gt;lt;br/gt;Said Baba Ram dev.
                          Reply
                          1. M
                            Mayur
                            Nov 10, 2016 at 5:09 am
                            Pm decision leaked 6 months back when he was preparing ??
                            Reply
                            1. M
                              Monoranjan Debnath
                              Nov 9, 2016 at 9:20 am
                              Very good movement by modi ji.................
                              Reply
                              1. R
                                r s
                                Nov 9, 2016 at 11:50 am
                                good step
                                Reply
                                1. V
                                  Vihari Naidu
                                  Nov 8, 2016 at 4:45 pm
                                  What prevents ISI from printing new blackmoney notes.....?! lt;br/gt;lt;br/gt;Did government think at all
                                  Reply
                                  1. D
                                    David
                                    Nov 8, 2016 at 10:26 pm
                                    ELement of suprise and timings are important here. Lots of criminals, terrorists and politicians have unaccounted and duplicate money. So timing matters. Pak supported Jihadi terrorists their money will be useless too.
                                    Reply
                                    1. S
                                      Shaikh Mohammad
                                      Nov 8, 2016 at 7:12 pm
                                      Very bad decision to demonetise Rs 500 and Rs 1000 notes in short notice, without making robust provisions for exigent situation. The announcement should have come at 6 am morning so that people could exchange the withdrawn notes with Rs. 100 to run the daily expenses during the crisis period. The late announcement will create avoidable crisis and tremendous hardship to common man from 10 th November onwards. More importantly the control room numbers of RBI being flashed on TV channels are not working.lt;br/gt;The policy will inadvertently hurt the common man, whether or not achieve the desired result. The bulk of black money is actually parked in real estate or routed through hawala and benami transactions. This will have no effect on the eradication of black money and is only cosmetic in nature even though may have some short term cooling effect on inflation. The purpose of the present move is self-defeating because what is desired to be achieved by withdrawing Rs. 1000 notes will be offset by issue of Rs.2000 notes.
                                      Reply
                                      1. S
                                        Subal das
                                        Nov 10, 2016 at 2:30 pm
                                        wrong decisoin
                                        Reply
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