Posts tagged with "Reserve Bank of India"

What To Do With 500 And 1,000 Rupee Notes

What To Do With 500 And 1,000 Rupee Notes
From Wednesday, 500 and 1,000 rupee notes will be scrapped, PM Narendra Modi said. NEW DELHI: To stop the spread of counterfeit notes, which is aiding terror activities from across the border, and flush out black money, the government has decided to scrap the notes of Rs. 500 and Rs. 1000, Prime Minister Narendra Modi said on Tuesday. Starting midnight, these notes will only be “worth the paper they are printed on,” he said. A proposal... 

Banks To Stay Open This Weekend After Government Ban On Rs. 500, 1000 Notes

Banks To Stay Open This Weekend After Government Ban On Rs. 500, 1000 Notes
NEW DELHI: Just as Prime Minister Narendra Modi had warned, getting used to the overnight scrapping of the highest-denomination currency notes brought inconveniences. One can visit bank to return 500- and 1000-rupee notes and withdraw money to spend. Banks will reopen tomorrow and stay open this weekend to help people swap 500 and 1,000 rupee notes which are now banned, said the Reserve Bank of India. Banks and ATMs were closed today leaving lakhs... 
 
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