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Reserve Bank of India to issue new Rs 500, Rs 2000 notes

The Reserve Bank of India will soon issue a Rs 2000 notes following the scrapping of Rs 500 and Rs 1000 notes by the government on Tuesday.


Reserve Bank of India to issue new Rs 500, Rs 2000 notes

Zee Media Bureau

New Delhi: The Reserve Bank of India will soon issue a Rs 2000 notes following the scrapping of Rs 500 and Rs 1000 notes by the government on Tuesday.

In the biggest crackdown on black money, Prime Minister Narendra Modi on Tuesday announced that the Rs 500 and Rs 1000 will will not be legal tender anymore after 12 midnight tonight.

In a surprise address to the nation, the prime minister said the Indian economy was a bright spot but was being destabilised by corruption and black money.

Taking the fight to the next level, Modi announced that the Rs 500 and Rs 1000 notes would not longer be legal tender from tonight.

He however announced that the Reserve Bank of India has agreed to issue new Rs 500 and Rs 2000 notes soon.

The RBI has agreed to issue Rs 2000 notes, he said during the address.

Declaring war on black money, Modi, scrapping the notes, said they could be returned to bank for exchange till December 30.

However, for those who cannot change their Rs 500 and Rs 1000 notes by December 30, they can do so till March 31, 2017 providing they provide ID proofs.

From Zee News

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