In his 40-minute address, first in Hindi and
later in English, the Prime Minister said the notes of Rs 500 and Rs 1,000
"will not be legal tender from midnight tonight" and these will be
"just worthless piece of paper." However, he said that all notes in
lower denomination of Rs 100, Rs 50, Rs 20, Rs 10, Rs 5, Rs 2 and Re 1 and all
coins will continue to be valid. He also announced that new notes of Rs 2000
and Rs 500 will be introduced.
ATM withdrawals will now be restricted to Rs
2,000 per day and withdrawals from bank accounts will be limited to Rs 10,000 a
day and Rs 20,000 a week. Banks will remain closed on Thursday and ATMs will
also not function tomorrow and day after, Modi said. He expressed confidence
that the staff of banks and post offices will rise to the occasion to introduce
the new order within the available time.
Modiji, however, clarified that the citizens
will be able to deposit old notes of Rs 500 and Rs 1,000 at post offices and
banks of their choice. "The public will have 50 days time between 10
November and 30 December to deposit old notes of Rs 500 and Rs 1,000 after
showing a proof of identity," he said. The accepted POI documents include
Pan Card, Aadhaar Card, Voters ID Card, Driver's License and Passport. However, government hospitals, pharmacies in
government hospitals, airline ticket counters, bus ticket counters, railway
ticket counters and petrol pumps will accept old notes for the next 72 hours,
ie, till midnight 11 November.
Banks will be closed tomorrow. It
will cause some hardship to you....Let us ignore these hardships... In country's
history, there comes a moment when people will want to participate in the
nation building and reconstruction. Very few such moments come in life,"
Modi said. True words ! ~ the destiny of
the Nation is set to change.
People earning
money through unholy means, stashing them without revealing them or declaring
them has been going on, mostly unchecked – while the common salaried class is
taxed as high as 1/3rd of their earnings – bigger traders,
professionals, politicians and everybody else seemingly had been making merry
without paying taxes. Black money has been a pet theme of many films …. Sankar
directed Rajni starrer Sivaji was on black money and its harmful effect. In
Kanthasamy, Vikram plays a sleuth in CBI, granting the wishes of the needy who
write letters to Lord Muruga at Thirporur temple by disguising himself as an
anthropomorphic chicken. He goes on to discover a stash of black money, travels
places to take out the hidden riches for the benefit of Indian poor. In
Anniyan, Ambi an innocent and honest lawyer fights and kills lawbreakers by
torturing them and is shown as a person with multiple personality
disorder. ~ all of those dealing with corruption and black money were big
hits with the people, so was the 2011 Indian anti-corruption movement
spearheaded by Anna Hazare and his followers. Black is not the color of
money but the money earned to ill-gotten means – everyone have their own
estimates of black money stashed in tax-havens abroad.
Now clearly Modi show is better than fiction and movies… ***remember that in 2011 RBI banned 25 paise and coins below that denomination …
With regards – S. Sampathkumar
8th Nov 2016 @ 22.00 hrs.
