AIB co-founder Tanmay Bhat, who is generally critical of Prime Minister Narendra Modi-led government, today called the move to ban Rs. 500 and Rs. 1000 currency notes as ‘ballsy’.
Unsure of details and will read up further, but damn @narendramodi this is a ballsy move and I hope it works.
— Tanmay Bhat (@thetanmay) November 8, 2016
On November 8, in a surprise decision, PM Modi announced immediate ban on currency notes of Rs.500 and Rs.1000 denominations to curb black money.
In an address to the country, he praised India’s economic growth and called for the cooperation of the people and said that he understands the difficulty citizens of the country will be having for some time due to this otherwise necessary move.
Jitna sehyog aapse milega, utna shuddhikaran hoga: PM Narendra to the nation pic.twitter.com/NCT73M1Xs5
— ANI (@ANI_news) November 8, 2016
For the time being, people can exchange the notes for lower denominations at post offices and bank. The exchange is valid till November 24 only and upto Rs.4000.
To avoid panic and rush, the PM announced that government hospitals, petrol stations, crematoriums, milk booths, and railway/airline/bus counters will accept the notes of the said denominations till midnight November 11.