Rs 500, Rs 1000 notes scrapped

Prime Minister of India Narendra Modi on Tuesday announced that Rs 500 and Rs 1000 rupee banknotes would be withdrawn from circulation from midnight on Tuesday November 8 to crack down on rampant corruption and counterfeit currency. New notes of Rs 500 and Rs 2,000 would be released and circulated soon. The old notes can be deposited at post offices and banks without any charge till December 30.

Further information is available on the website of the Reserve bank of India (www.rbi.org.in) and the website of the finance ministry (www.finmin.nic.in). You may approach the control room of RBI by email or over the telephone: 022 22602201/022 22602944.

Cover photo: The new notes of the 500 and 2000 rupies