Demonetisation: RBI statement on withdrawal of legal tender of Rs. 500 and Rs.1000

November 15, 2016 10:45 am | Updated June 05, 2017 12:48 pm IST

Prime Minister Narendra Modi on November 8 announced that currency of Rs. 500 and Rs.1,000 >ceased to be a legal tender . He said the decision was taken to root out the menace of black money and corruption. The Reserve Bank of India has urged people to be patient and exchange notes at their convenience. Read the >RBI full statement here .

Top News Today

Sign in to unlock member-only benefits!
  • Access 10 free stories every month
  • Save stories to read later
  • Access to comment on every story
  • Sign-up/manage your newsletter subscriptions with a single click
  • Get notified by email for early access to discounts & offers on our products
Sign in


Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.

We have migrated to a new commenting platform. If you are already a registered user of The Hindu and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.