In what can be seen as an unprecedented move by Prime Minister Narendra Modi, during a special address to the nation, he announced that currency notes of Rs 500 and Rs 1,000 denominations will be illegal starting 12 midnight on November 9. “Currency notes of Rs 1,000 and Rs 500 will be just paper with no value,” Modi said. According to news agency ANI, here is how new Rs 500 and Rs 2000 denominations look like. Most poeple wanted to know why this step was take, while others lauded the PM’s effort to counter black money hoarding and corruption. Some even proposed ‘auctioning’ their ‘rare collectors Rs 500 note from 2016 AD Modi era for Rs 10,000’.

Source: Indian Express November 08, 2016 15:45 UTC