To root out black money and fake currency.
A welcome move says citizen. Dreadful news for Black Money holders.
PM Narendra Modi announced in a surprise address to the nation that from Mid-night of Tuesday 500 and 1000 rupee notes cease to legal tender and are just worthless piece of paper. This news caused a nationwide surprise with lots of supporters and as well as opposes.
The present 500 and 1000 rupee notes though can be exchanged with new 500 and 2000 rupee notes in banks in a two days’ time (that is from Thursday 10-11-2016) and till December 31st. But the old notes can be used in Hospital, Railway station and air ports till November 31st which is a welcome move for emergency purpose.
Why introduce new currency all of a sudden?
This is a common question by all citizen of India and around the world. Why announce it in such a short notice and why introducing new currency. But if you go deep into this scenario, a lot of those who own black money, hide their money in currency notes of 500 and 1000 in pile of sack, under the bed, underground and behind the walls. A lot of political parties use these hidden black money to bribe the public during election and vote for them and also to set up gigantic and luxurious stages for their rally. Now with this new act being enforced in just a 3 to 4 hour time, the crores and crores of black money in currency notes are “just a worthless piece of paper”.
Narendra Modi announced it at 8:15 pm, check mate all those who hid their money in currency form. Now they can’t even exchange with new currency because definitely they need to give a valid proof where that money came from. This is unprecedented out of the box thinking. Salute Narenda Modi ji.
Is it a well-planned move?
Definitely. The government has already designed the currency notes, printed it and ready for transport to all the banks and ATMs around the country. This is the fruit of months of planning and implementation and clearly depicts the efficiency of the present government rule.
Also rumors are spreading that the 2000-rupee note is embedded with NGC technology-A Nano GPS technology that require no power supply but could reflect the signals sent from satellite transmitting coordinates of where is currency is. If this is true, literally no one can even smuggle a sizable amount of cash without being detected by our constantly monitoring satellite.
The entire India should salute the present ruling Government for such a marvelous move to curb black money in India. This is a great moment in Indian history. This is the day 08-11-2016, India took a great leap towards eliminating black money and a huge step corruption free India. The dream of Anna Hazare is over the horizons friends.