The government’s declaration that Rs 500 and Rs 1000 notes would be illegal from Tuesday midnight has caused a storm. ATMs are set to be shut on November 9th. Prime Minister Narendra Modi further said that 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.
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.
Urging people to help the government in its fight against black money and fake currency notes, PM Modi said the process of cash circulation is directly related to corruption in the country impacting the lower classes of society.
This was one topic that got everyone in the country talking and sportsmen are not far behind. Here are a few of their reactions to the news on social media:
In America they will count Votes.
In India count Notes.
Tonight just notice d houses that dont have lights off,Note Counting On.#BlackMoney
So no Rs 500/1000 notes from tonight. Interesting to see whether it ends up attacking black money. Hopefully will work.
— Harsha Bhogle (@bhogleharsha) 8 November 2016
In one stroke of genius the issue of Black Money is tackled successfully…imagine the plight of someone storing 100Cr in cash now 😂😂
— Aakash Chopra (@cricketaakash) 8 November 2016
Really great move this to ban Rs.500 and Rs.1000 notes post midnight.
The timing and the secrecy, worth lauding.#NoToCorruption
— Mohammad Kaif (@MohammadKaif) 8 November 2016