Tonight while USA is counting votes India will be counting notes. A move by Prime Minister Narendra Modi government that will give a sleepless night to the nation. Today the PM said that the country is throwing away Rs 500 and Rs 1000 notes in a move to remove corruption and black money. People with existing currency at home can deposit this money in the bank till 30th December, post that banks will not accept it. Read Narendra Modi Kundali.
Tomorrow (9th November) and Day after (10th November), banks and ATMs will be closed. The government will reintroduce Rs 500, and Rs 2000 notes soon. If you have any notes at home, exchange it else the notes will have no value. To track the notes that are being deposited government asked banks to note down Adhaar card, Passport or Pan card details of the citizens depositing currency. Tourists can exchange notes at the airport.
Other notes such as Rs 100, Rs 50, Rs 20, Rs 10 along will all coins are still valid. Social media and whatsapp is buzzing with this news updates. The best status message on Facebook is “Unprecedented move by PM Modi! Today is truly a red letter day in the history of India. Big leap towards the end of corruption.” Another status says that PM Narendra Modi will make husband’s aware of their wife’s hidden treasures.
Politicians, Businessmen, Doctors, Lawyers, and most of all real estate professionals would be knocking down on CA offices to figure out a way of depositing their black money without falling in the radar of IT. The move will weed out existing black money, but once the new notes are introduced, people would again skip tax. Only in time we will know how effective this move was. Truly a brave move by PM Narendra Modi Jai Hind !