Prime Minister Mr. Modi today announced Rs 500 and 1000 notes are scrapped. This means that starting from 12 am tonight these notes will become invalid.
Tomorrow banks would be closed. ATMS will not function from 10th & 11th November 2016.
But, these notes would be valid for the next 72 hours in Government Hospital, Air Ticketing, Rail Ticketing, Crematoria and in Petrol bunks. These notes can be replaced with banks and Post offices within 31 December 2016 and the deadlines are also extended to 31 March 2017. Government has introduced new note of Rs 2000. New 500 Rs note also be introduced and will be available from November 10.
People have thronged into the ATMs, CDMs and recylers. People also feared about the immediate needs in the next few days.