PM Narendra Modi may have banned the Rs 500 and Rs 1,000 notes today, effective midnight, in a bid to stamp out black money, fake notes and corruption in one fell swoop to shock and awe the nation just when everyone was getting ready for a relaxed dinner and unveiled the new Rs 500 notes and new Rs 2,000 notes to compensate the public, the twitterati reacted with customary zeal, enthusiasm and tongue-n-cheek manner to provide their unique take on one of the most awe-inspiring policy moves by any Indian government since Independence. Whether that will just be a public nuisance or actually hit the black money circulating in the economy is unclear, the Opposition parties are blasting the NDA government for the decision, but what is clear is that the Indian firmament, virtually the entire way we conduct our daily lives, will no longer be the same. Among the other bold announcements made by PM Modi was that the government has slashed the amount that an account holder can withdraw from ATMs from Rs 10,000 (you could withdraw Rs 20,000 – Rs 10k at a time – earlier) to just Rs 2,000. PM Modi said, “Notes of Rs 2000 and Rs 500 will be circulated soon and banks will be closed on November 9. And on November 9 and in some places November 10, ATMs will not work.” PM added, “You have 50 days (from 10 Nov to 30 Dec) to deposit notes of Rs 500 & Rs 1000 in any bank or Post office. Respite for people for the initial 72 hours, govt hospitals will accept old Rs 500 and 1000 notes till 11 November midnight.” Check out here how the public unleashed the artist in themselves to render the banned Indian rupee notes in their spectacular avatars:
— Tarun (@dreamthatworks) November 8, 2016
The note that will replace Rs 500. (Above)
NOTE: After throwing all calculations of a family’s finances out of the window, the RBI has provided a telephone helpline that citizens who face difficulties can call. These are 022-22602201 and 022-22602944 starting tomorrow for.