PM Modi Full Speech On Currency Ban Rs.500 Rs.1000 Starts From Tonight –
Prime Minister Modi Mr. Narendra Modi has called an emergency address speech Tonight 8 Pm, where he revealed to the country that 500 and 100 rupee notes are to be discontinued from midnight today. I know how defective decision it is but it is true and will be staunch decision of striking off usage of 1000 and 500 Rupee notes currency in India. This decision has been made by the present government under the PM who says, IMF and World Bank states India is an economic star now.
Every citizen will be allowed to withdraw 10,000 Rupees from Bank or ATM per day and 30,000 per week which seems to be less. This ban on notes can be major stroke on Indian economy but we will, have to wait and watch how it turns out to be.
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Prime Minister Narendra Modi announced that he would be addressing the nation at 8 PM on Tuesday. The announcement on Monday evening 7:40 PM. The address was unplanned and not scheduled. Media fraternity was taken by surprise over Prime Minister’s sudden decision to address the nation. Earlier in the day, Modi met all three chiefs of the Indian army to discuss the situation in Kashmir. Modi is also scheduled to meet President Pranab Mukherjee, barely 30 minutes after the meeting. Stay tuned with India.com with all the live updated from the speeck of PM Narendra Modi.
Earlier in the day, Modi met all the three chiefs of Indian Army – Gen Suhag, Gen Lanba (Navy) and Arup Raha (Indian Air Force). The meeting was focused around Kashmir and the threat posed by Pakistan through cross-border terror. Media sources are firm that the sudden address by Modi is related to national security. However, no confirmation has been made so far. No indication has been made regarding the reason for the sudden address.
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Live updates on PM Modi Full Speech:
9:50 pm:Tomorrow Banks will be closed for withdrawing these notes from counters & ATMs, says Arundhati Bhattacharya
9:45 pm: We will work round the clock to ensure that customers have a smooth experience says SBI chairman Arundhati Bhattacharya. We will strive to restock ATMs at the earliest and make them operational, says SBI chairman Arundhati Bhattacharya
9:40 pm: We have just now been advised of the Govt’s move to demonetise current series of Rs1000 &500 says Arundhati Bhattacharya
9:38 pm: There is no restriction of depositing your legal Rs. 500, Rs. 1000 notes for exchange. Any amount, as long as it is legal, can be exchanged.
9:37 pm: No security breach has been reported. New notes will be Braille compliant, says DEA secretary
9:36 pm: Within this period, cheques, debit cards, e-transactions will continue. All electronic transations on account of business firms, companies and individuals will continue in the new two days: DEA secretary
9:36 pm: The decision to withdraw existing 500/1000 denomination currency notes has surprised everyone says DEA secretary
9:35 pm: Post offices, bannks to open additional counters and extend working hours to accomodate the public.
9:34 pm: Initially, there could be inconvenience. The supply of new notes will be increased. First aspect to be considered is inflation. RBI will monitor and regulate the printing and circulation of Rs. 2000 notes.
9:33 pm: The notes that are being circulated in social media are true. Not sure how the notes look got leaked, but sure that people will cooperate with the govt. in this venture.
9:32 pm: FIU of India get info about transactions from banks. During this period, banks will take extra precaution. Banks will share info with Income Tax dept. as deemed fit.
9:32 pm: If it is declared as not legal tender, then any transactions are done with their own risk, says Shaktikanta Das on PM Modi Full Speech about currency ban.
9:30 pm: Measure necessary to maintain economic integrity of economy, says Shaktikanta Das. It will be positive for our economy and will add to the growth of our economy.
9:25 pm: RBI shows the specimen notes of new Rs. 500 and Rs. 2000 notes.
9:22 pm: Banks will have video cameras for all trransactions, people must be careful while exchanging legal cash, says Shaktikanta Das
9:21 pm: Control rooms formed in RBI in Mumbai – 022 22602201, 22602944 will be operable from tomorrow morning 8 am, says Shaktikanta Das
9:20 pm: Fake currencies circulation have grown over the years. We are launching new currency notes with new designs from November 10. Introducing 200 rupee note with Mangalyan logo, says Shaktikanta Das