Notes of 500 and 1000 to be deposited with the banks: PM

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Live update of PM Narendra Modi's address to the Nation. Corruption, terrorism, black money weakening the nation. Stay with us for the latest news and live updates from PM Modi's speech.

In a bid to curb black money, Modi government has made a breakthrough initiative. The government requests citizens to deposit Rs 500 and Rs 1000 notes in the banks within the period of 50 days from tomorrow. Here are the key pointers that might help you overcome hassles ahead:

•    The money has to be deposited in next 50 days, last day is 30 december 2016.
•    Notes of Rs 500 and Rs 1000 will be not in circulation
•    All the banks and ATM’s will be non-functional on 9th and 10th November 2016
•    Against these denominations, government has planned to release bigger denominations of Rs 2000.
So be a part of the movement and slam black money holders.

From midnight of November 8, 2016, Rs. 500 and Rs.1000 will cease to be legal tender.

Stay with us for the latest news and live updates from PM Modi's speech.

A look at the new Rs. 500, Rs. 2000 notes specimen. Photo:

Here are the highlights from his address:

  • - Some important decisions and some serious issues to share.

  • - When you elected this government in 2014, world was talking about India being shaky economically. But India is now an economic star - this is what IMF and World Bank are saying.

  • Sab ka sarkaar, sab ka vikas - governance and progress for all is our motto. We are focused on empowerment of the poor. A series of schemes we have introduced all aim at this. This is a government for our farmers.

  • - Corruption and black money are diseases rooted in this country, they are obstacles to our success.
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