The current notes of Rs 500 and Rs 1000 will no longer be valid from November 8 midnight, Prime Minister Narendra Modi announced in a televised address to the nation. Instead, notes of Rs 2000 and a newly designed Rs 500 are being introduced. Here are highlights from his speech:- From midnight, notes of Rs 500 and Rs 1000 will cease to be legal tender. - Citizens will have 50 days -- between November 10 and December 30 -- to give in notes of Rs 1000 and 500 at post offices and banks. Rs 500 And Rs 1000/- notes cease to be legal tender Here is what you can do... pic.twitter.com/dFVh3cQtHY — M Venkaiah Naidu (@MVenkaiahNaidu) November 8, 2016- This government is committed to the poor: PM Narendra Modi in address to the nation.

Source: Hindustan Times November 08, 2016 14:44 UTC