500 and 5000 notes baned
8:34 pm: This is a chance for every citizen to take part in the fight against black money and corruption, says the prime minister.
8:32 pm: A new series of Rs. 500 currency notes and Rs. 2000 currency notes will be brought into circulation.
8:31 pm: Banks will be closed on November 9.
8:30 pm: There is no restrictions on internet banking, cash, demand draft transactions.
8:27 pm: Rs 10,000 daily cash withdrawal and Rs 20,000 weekly cash withdrawal limit
8:25 pm: There are, however, some exemptions. Government hospitals and international airports.
8:22 pm: The ATMs will not function till November 9, and in some places till November 10.
8:21 pm: People who possess Rs.500 or Rs. 1000 currency notes after December 30 can exchange it at Reserve Bank of India by providing a declaration. This is till March 31, 2017.
8:20 pm: These notes should be exchanged in banks and head post offices and sub post office within December 30, 2016, by providing a valid identity proof such as Aadhaar, PAN card or voter ID card.
8:15 pm: From midnight of November 8, 2016, Rs. 500 and Rs.1000 will cease to be legal tender. “These notes are just papers from tomorrow,” says the prime minister.
8:11 pm: Prime Minister says Rs. 500 and Rs.1000 are notes are mostly used in black money.
