Indian Pm Narendra Modi Abolishes 500 & Chiliad Rupee Banknotes Inwards A Bid To Struggle Terrorism Too Corruption

In a televised broadcast to the acre on Tuesday, Indian PM Narendra Modi announced that 500 in addition to G Indian rupee notes volition non move legal tender equally of midnight, calling the notes “just worthless slice of paper.”

The motion is aimed at mitigating corruption in addition to invalidating counterfeit currency notes that are beingness used past times terrorist, "Black coin in addition to corruption are the biggest obstacles inwards eradicating poverty," said Modi.

In his speech, Modi explained that counterfeit Rs 500 notes are widely used past times militants to fund terrorist activity, "Terrorism is a frightening matter ... But convey yous always idea most how these terrorists larn their money? Enemies from across the edge convey run their operations using imitation currency notes. This has been going on for years," explained Modi.

The Indian Prime Minister said inwards his spoken language that Rs 500 in addition to Rs G currency notes tin move exchanged at banking concern branches in addition to post offices from Nov tenth to Dec 30th. Modi likewise mentioned that novel notes inwards denominations Rs 2000 in addition to Rs 500 volition move introduced equally replacements.



Indian banks volition move unopen on Wed for the switchover. Modi urged Indians to move patient alongside the authorities equally these measures are aimed at improving the economical in addition to social stuff of Indian society:

“In country’s history, at that topographic point comes a minute when people volition desire to participate inwards the acre edifice in addition to reconstruction. Very few such moments come upward inwards life.”
The surprise proclamation has spurred anxious Indians to foremost taking out cash at ATMs across the country. Photos of long lines at ATMs inwards Republic of Republic of India are pouring into Twitter:

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