The demonetisation of ₹500 and ₹1000 banknotes was a step taken by the Government of India on 8 November 2016, ceasing the usage of all ₹500 and ₹1000 banknotes of the Mahatma Gandhi Series as a form of legal tender in India from 9 November 2016.[1]
The announcement was made by the Prime Minister of India Narendra Modi in an unscheduled live televised address to the nation at 20:15 IST the same day.[2][3] In the announcement, Modi declared circulation of all ₹500 and ₹1000 banknotes of the Mahatma Gandhi Series as invalid and announced the issuance of new ₹500 and ₹2000 banknotes of the Mahatma Gandhi New Series in exchange for the old banknotes.
4500 exchange limit is decreased to 2000 rupees
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The announcement was made by the Prime Minister of India Narendra Modi in an unscheduled live televised address to the nation at 20:15 IST the same day.[2][3] In the announcement, Modi declared circulation of all ₹500 and ₹1000 banknotes of the Mahatma Gandhi Series as invalid and announced the issuance of new ₹500 and ₹2000 banknotes of the Mahatma Gandhi New Series in exchange for the old banknotes.
4500 exchange limit is decreased to 2000 rupees
click here to read
