Economy | Finance
PM Modi withdraws Rs 500, Rs 1000 currency notes from midnight
THE HINDU, NEW DELHI | 08 November 2016 21:22 IST
Taking the nation by surprise, Prime Minister Narendra Modi on Tuesday night announced demonetisation of Rs. 1000 and Rs. 500 notes with effect from midnight, making these notes invalid in a major assault on black money, fake currency and corruption.
In his first televised address to the nation, Mr. 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.
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My daughter michelle colaso is studying in nursing collage bambolim and staying in the hostel. Today i had been to Bank of India COLLEM branch to deposit a sum of Rs10500 ten thousand five hundred in her account which was withdrawn a few days back for her day today expenses. The branch manager does not allow the money to be deposited in her account and informed that she should be present physically to deposit the amount or deposit the amount in my account and then transfer the amount. Even my proof and my daughters documents are not being accepted. Many senior citizens are also sent back.
There is complete chaos in the bank, with the manager displaying the government notification.
Better sense prevail on the managers and Govt authorities who want to deposit a few sum of Rs 500, in their account