Updated By: LatestGKGS Desk
PM Narendra Modi bans 500 and 1000 notes from midnight 8 Nov
Prime Minister Narendra Modi has banned the use of Rs.500 and Rs.1000 notes from midnight 8th November 2016.
From midnight today, 500 and 1000 note will be just a piece of paper.
Other notes will be valid but legal tender for Rs. 500 and Rs. 1000 note will not be applicable.
Two days ATM is also closed on 9th and 10th November 2016
The government has taken the step to fight against corruption.
The people can change the notes with the Banks and Post Office from 10th November 2016 to 30th December 2016.
The government has given 50 days to exchange the notes with the banks.
This will not be applicable to hospitals, buses, railways, petrol pumps and airways till 11th November 2016.
