A government official justified the last-minute announcement to demonetize banknotes, saying the move was necessary to stop terrorists and drug cartels «in their footsteps.» «A moment of surprise is essential, otherwise they would have taken the necessary precautions,» he said. The official described the action as «surgery because the tumor had to be removed to prevent recurrence.» He claimed that this would lead to a reduction in inflation as conspicuous consumption would decrease. According to him, «the tumor of corruption could not be fought by proven, tested and failed methods» and it was time to apply new methods to defeat India`s enemies. As of March 2016, 14 lakh crores of rupees of 16 crores of rupees were worth the currency issued by the RBI in denominations of 500 rupees and 1,000 rupees, according to official data from the Central Bank. The front of the Mauritian rupee 500 note features Sookdeo Bissoondoyal (1908 – 1977), a Mauritian politician and an influential figure in the independence movement. The state coat of arms, Lady Justice and a seal with the figure of the extinct sleeping bird. The background shows a view of the headquarters of the Bank of Mauritius, surrounded by a floral frame of earring, the national flower of the country. The back of the note shows the University of Mauritius in the city of Port Louis and a sketch of the island and a seal with the figure of the extinct sleeping bird. Both sides of the note present the name in Tamil and English.
This note is part of the series 2013 – 2017 and its color is reddish-brown, black and multicolored. Without naming Pakistan, the prime minister explicitly referred to cross-border terror financed by counterfeit banknotes. «In the country`s development history, there comes a time when powerful and decisive decisions are needed,» Modi said. Banks and ATMs are closed on Wednesdays. High-quality banknotes will still be accepted in hospitals or in case of emergency until the new year, the prime minister said. The 100, 50, 20, 10, five, two and one rupee notes are legal tender and will not be affected by the decision, the prime minister said, adding that all banks and ATMs will be closed on Wednesday and ATMs in some places will also be closed on Thursday. Modi announced that existing 500 or 1,000 rupee notes can be deposited into a person`s bank or postal accounts between November 10 and December 30. A currency value of up to 4,000 rupees can be exchanged by any bank or post office per day until November 24 upon presentation of a government ID. The new ₹500 banknotes differ from the previously specified banknote series (SBN) in colour, size, theme, location of security features and design elements; The main features are: The Mauritian rupee is the official currency of Mauritius. In 1876, the first banknotes were introduced in denominations of 5, 10 and 50 rupees, followed by 1 rupee in 1919, 25 and 10 cents in 1940 and 1000 rupees in 1954. After the founding of the Bank of Mauritius in 1967 as head of banknotes and coins, the bank introduced a new series of 5, 10, 25 and 50 rupee notes.
In 1985, the Bank introduced a brand new set of 5, 10, 20, 50, 100, 200, 500 and 1000 rupee notes. A year later, another new series was introduced with the 2000 rupee note. Finally, in 1999, the Bank of Mauritius introduced the last series in denominations of 25, 50, 100, 200, 500, 1000 and 2000. Rupees. However, for 72 hours, public hospitals, railways, planes and government bus counters continue to accept old tickets. Old banknotes will also be accepted until November 11 at gasoline, diesel and gasoline stations approved by state-owned public-sector oil companies, government- or centrally approved consumer cooperatives, state-approved milk stalls, and crematoriums. (Your legal guide to estate planning, inheritance, wills and more.) The legal limit for transporting cash in US dollars from India to the US is USD 3000 per person per trip. However, you can carry up to $10,000 in the form of bank bills, traveler`s checks, etc.
The prime minister said the country`s most valuable banknotes would be withdrawn from circulation as part of the crackdown on «black money», Modi told the nation: «The exchange of 500 and 1,000 rupee notes offered as currency will be stopped from today. Black merchants and traitors who use black money will not be able to move large sums of money, and the 500 and 1,000 rupee notes will become worthless pieces of paper. These citizens, who earn honestly and with hard work, their interests are protected. The Reserve Bank of India will soon issue banknotes with a face value of ₹500 in the Mahatma Gandhi (New) series with the letter «E» embedded in the two license plates bearing dr. Urjit R`s signature. Patel Governor, Reserve Bank of India, the printing year «2016» and the Swachh Bharat logo on the back of the note. www.jagranjosh.com/general-knowledge/the-history-of-the-indian-currency-notes-and-its-evolution-1472803179-1 «In the continuity of the issuance of 500 rupee notes in the Mahatma Gandhi (new) series from time to time, which are currently legal tender, a new batch of banknotes with the letter inserted «A» in the two license plates bearing the signature of Dr. Urjit R. Patel, Governor, Reserve Bank of India; with the printing year `2017` on the back, will be released,» RBI said in a statement.
In a surprise televised address on Tuesday night, Modi said the demonetisation of India`s most valuable banknotes, worth around 6 and 12 pounds, would begin at midnight. Five hundred 1,000 rupee notes were no longer legal tender as of midnight on Tuesday. Prime Minister Narendra Modi made the announcement in a surprise speech to the nation on Tuesday night. He said the decision was made to eradicate the threat of black money and corruption. This move is an attempt to end the booming economy of untaxed cash transactions, which allows corruption and the financing of terrorist groups, and keeps counterfeit notes in circulation. Repeat these steps for all banknotes, coins, stamps, and gift cards you want to redeem. Complete the payment process and get paid within a week or less. Modi stressed that citizens who have 500 and 1,000 rupee notes do not need to panic as the money can be deposited in banks or post offices by the end of 2016. He said: «These measures are part of our fight against corruption, black money and counterfeit notes. The ordinary citizen who fights is strengthened.
You don`t need to rush to the bank tomorrow, you have 50 days. «Ab Mitternacht am 8. In November 2016, the ₹500 and ₹1,000 notes from the Mahatma Gandhi series were no longer available as legal tender in India following a televised address by Prime Minister Narendra Modi. [12] The Reserve Bank of India will issue new Rs 500 and Rs 2,000 notes from 10 November. The new 500 rupee note will show the Red Fort and the new 2,000 rupee note will show mangalyaan, Economy Minister Shaktikanta Das said at a press conference on Tuesday night. These notices will be available from 10 November. The Reserve Bank of India (RBI) issued a new currency of 500 rupees with the letter «A» on Tuesday, June 13. However, the RBI has made it very clear that new 500 notes issued after demonetization are still legal tender. The 8. In November 2016, Indian Prime Minister Narendra Modi announced the demonetization of the 500-pound Mahatma Gandhi series notes to fight corruption in India and combat the problem of counterfeit notes. [1] [2] [3] [4] [5] [6] On 10 November 2016, the previous banknote was replaced by a new ₹500 banknote from the new Mahatma Gandhi banknote series.
[7] Indian Prime Minister Narendra Modi announced that 500 and 1,000 rupee notes would be withdrawn from circulation to plunge the country`s economy into chaos. The design of these notes is similar in all respects to the 500 rupee notes of the Mahatma Gandhi (New) series, which were released after Prime Minister Narendra Modi demonized the old currency 1000 and 500 on November 8, 2016 to curb black money. Download the Economic Times News app for daily market updates and live economic news. Text: Bank of Mauritius, this note is legal tender for five hundred rupees, first governor, governor, second vice-governor, Stella Clavisque Maris Indici, Mr. Sookdeo Bissoondoyal 1908 – 1977, RS500, 2017. The reverse will have Swachh Bharat and will also include an image of the Red Fort. To learn more about the news, email your request to education.intoday@gmail.com Modi`s announcement is controversial in India, where a huge shadow economy accounts for 20% of GDP and operates with impunity.