INDIATODAY.IN
NEW DELHI, NOVEMBER 8, 2016
PRIME
MINISTER NARENDRA MODI, IN A SUDDEN ADDRESS TO THE NATION, ANNOUNCED THAT RS
500 AND RS 1,000 DENOMINATION NOTES ARE BEING WITHDRAWN FROM MIDNIGHT. HE SAID
THAT SUCH NOTES WILL BECOME "MERE PAPER".
PRIME
MINISTER NARENDRA
MODI TODAY ANNOUNCED THAT RS 500 AND RS 1000 BANKNOTES WOULD BE
WITHDRAWN FROM THE FINANCIAL SYSTEM AT MIDNIGHT, SAYING IT WAS PART OF A
CRACKDOWN ON RAMPANT CORRUPTION.
IN AN UNPRECEDENTED MOVE, PRIME MINISTER NARENDRA MODI ADDRESSED THE NATION THROUGH DOORDARSHAN, INDIA'S STATE TELEVISION. HE IS SCHEDULED TO MEET PRESIDENT PRANAB MUKHERJEE AFTER HIS TELECAST.
THIS IS THE FIRST TIME MODI ADDRESSED THE NATION IN THIS MANNER SINCE HE WAS ELECTED MORE THAN TWO YEARS AGO. THE ADDRESS WILL BE FIRST IN HINDI, FOLLOWED BY AN ENGLISH TELECAST.
IN AN UNPRECEDENTED MOVE, PRIME MINISTER NARENDRA MODI ADDRESSED THE NATION THROUGH DOORDARSHAN, INDIA'S STATE TELEVISION. HE IS SCHEDULED TO MEET PRESIDENT PRANAB MUKHERJEE AFTER HIS TELECAST.
THIS IS THE FIRST TIME MODI ADDRESSED THE NATION IN THIS MANNER SINCE HE WAS ELECTED MORE THAN TWO YEARS AGO. THE ADDRESS WILL BE FIRST IN HINDI, FOLLOWED BY AN ENGLISH TELECAST.
MODI'S
ADDRESS TO THE NATION COMES AT THE END OF THE DAY IN WHICH HE MET THE THREE
CHIEFS OF THE ARMED FORCES - ARMY CHIEF DALBIR SINGH, NAVY CHIEF SUNIL LANBA
AND INDIAN AIR FORCE VICE CHIEF BS DHANOA - TO REVIEW INDIA'S SECURITY
FOLLOWING THE TENSION WITH PAKISTAN.
National
Security Advisor Ajit Doval was also present at the meeting. The Prime Minister
then chaired a meeting of his senior ministers.
The
meeting came as tension along the India-Pakistan border continues, with over
100 violations from the Pakistani side since the surgical strikes that India
carried out on terror launch pads in Pakistan-administered Kashmir in the
intervening night of September 28-29.
Highlights:
Ø This speech is for a special request
that I am going to make to the nation.
Ø We are for empowerment of poors and
for their rights.
Ø The various schemes launched by the
government are aimed at empowering the poor. It shows the government is
dedicated to the poor.
Ø Corruption and black market is a big
hindrance in removing poverty.
Ø India a bright spot in global
economy. This claim is not by us, but by the IMF.
Ø Corruption is the biggest bane for
us. We are Number 70 on corruption index.
Ø Terrorism is being funded from
across the border using fake currencies
Ø We took many steps to contain the
menace of black money
Ø We made an SIT on black money with a
retired judge of Supreme Court
Ø We entered into agreements with
various countries to contain black money transactions
Ø We introduced the amnesty scheme to
announce black money\
Ø Corruption, black money etc are such
things which are pushing teh country backwards
Ø Rs 125 lakh crores came out during
amnesty scheme on black money
Ø Some people have misutilised their
positions for corrupt practices
Ø Some honest people have fought
corruption as well
Ø On one side terrorism, fake note
currency is destroying the country and on the other corruption and black money
is destroying the country
Ø Rs 500 and Rs 1000 notes will be
invalid from November 8 midnight
Ø The process of cash circulation is
directly related to corruption in our country impacting the lower classes of
our society
Ø From Midnight Nov 8, 2016 today, Rs
500 and Rs1000 notes are no longer legal tender
Ø You have 50 days (From 10 Nov to 30
Dec) to deposit notes of Rs 500 and Rs 1000 in any Bank or Post office
Ø On November 9 and in some places, on
November 10, the ATMs will not work
Ø ATMS will limit money to Rs 2,000 a
day initially
Ø On November 9, all banks will remain
closed for public work
Ø There will be no change in any other
form of currency exchange be it cheque, DD, payment via credit or debit cards
etc.
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