Tags Posts tagged with "Modi stops use of Rs 500 and Rs 1000"

Modi stops use of Rs 500 and Rs 1000


Its really shocking, anguishing and disheartening to note that despite so much of national and even international outrage on the despicable murder of an outspoken journalist with left leaning Gauri Lankesh in Bengaluru recently, the attacks on journalists in their line of duty are still on the incessant rise. Just a day after this gruesome murder a journalist of a hindi daily was attacked with guns in Arwal district of Bihar but was lucky to save himself. But what now? Just yesterday i.e. on Wednesday in Tripura another journalist working with a news channel Din Raat having left leanings was killed in broad daylight by the Indigenous Peoples’ Front of Tripura with police literally doing nothing except playing the role of mere onlookers.
The name of the 27 year old young journalist is Shantanu Bhowmik who was working as a reporter and had gone to West Tripura tribal dominated Mandwai district to cover the clashes between Indigenous Peoples’ Front of Tripura and the Communist Party of India Marxist cadres. Tripura is being ruled by CPM government for years together with its current chief minister Manik Sarkar counted as one of the most honest chief minister of the country who travels by Rikshaw and donates his entire salary in the party fund thus surviving on the monthly stipend of Rs 5 to 8 thousands given to him every month from the CPM party fund.
Both the journalists Gauri Lankesh and Shantanu Bhowmik were killed in non BJP ruled states and both had progressive communist leanings stridently opposed to the right wing ideology and ideologues. According to the police the volunteers of the Tripura Rajer Ganmukti Parishad were stationed at a bus stand to board the bus for the state capital Agartala in order to participate in the CPM rally. On seeing these left cadre the IPFT members got infuriated and attacked them with lethal weapons.
Journalist Shantanu was covering this development live and was targetted on the spot. In India shamefully more than seventy journalists have been brutally murdered in their line of during the last few years such as Bakshi Teerath Singh of Punjab Kesari on 27th Feb 1992, Shivani Bhatnager of Indian Express, 1999, Irfan Hussain Outlook, March 1999, Adhir Rai, Freelance, March 2000, V Silveraj, Nakeeran in July 2000, Journalist Thounojaam Brajmani Singh Manipur News, August 2000, Ram Chandra Chatrapat, Pura Sach, Nov 2002, Rajesh Verma IBN 7, 2013, Sai Bandhu, Desh Bandu 2013, December, Tarun Kanak TV, May 2014, V Shankar, Jagendra Singh, Sandeep Kothari, Sanjay Pathak, Hemant Yadav, Rajiv Ranjan( all journalists) and finally Gauri Lankesh and Shantanu Bhowmik in 2017. The moot question is what are the governments doing to stop the blood bath and the increasing murders of journalists in the country.


Prime Minister Narendra Modi has taken a historic decision by banning Rs 500 and Rs 1000 note from tonight for curbing black money. General public will not be able to use these notes after 12am of 8th November 2016.

This is a great move taken by the PM Modi to kill corruption and black money monster. People can make the payments through online and cheque. It is a major problem for those who have lots of black money in cash because they will have to submit PAN card or Adhaar card in the Banks and Post offices to exchange the Rs 500 and Rs 1000 notes.

For next two days Banks will be closed and ATMs will also not be functioning as the Government needs to put the fresh notes in them.

Soon fresh notes of Rs 2000 will be available in the Banks but till then people will have to manage with Rs 1000 notes. Once Rs 2000 notes are available in the market situation will become normal.

Rs 500 and 1000 notes can be used in Government hospitals, medical shops, Railway stations, Bus stands and Airports till 11th November so that people do not face problems at these places.

There is no problem in using the coins and you can very well use them but it will be difficult if you want to do bigger transactions in the market. RBI told that the circulation of Rs 1000 note had increased up to 109% which shows that fake notes of Rs 500 and Rs 1000 were in maximum circulation.

One more important thing in this move taken by the Central Government is that one person cannot exchange more than Rs 4000 per day and that too after providing PAN card or Adhaar card.

Reserve Bank of India has told in the press conference that they are prepared and they will be releasing new currency notes with new features and look and new notes will be officially available from 10th November.

The new Rs 500 note will have Red Fort picture with Mahatma Gandhi photo and the New Rs 2000 note will have a Mangal Yaan photo on it.

RBI feels that It is great dent on black money as people who have accumulated black money will not be able to exchange the cash money because when they will go for exchanging the money Government will know that it is a black money which is not claimed in the bank statements.

Currently there is panic situation in the market and people do not know what exactly to do.

However the News TV channels have stated that money can be exchanged till 30th December. Further for some days ATMS will also not have more than ten lakh rupees as these will only have hundred rupees notes and that will take more space/volume.

This surgical strike on black money will definitely help the Indian Government to curb the use of black money and fake currency. For few days one can only withdraw Rs 2000 cash and this limit will be increased to Rs 4000 per day from the ATMs.