Surgical strike on black money: Key points of PM Narendra Modi's announcements

NEW DELHI: Taking the nation by surprise, Prime Minister Narendra Modi tonight announced demonetisation of Rs 1000 and Rs 500 notes with effect from midnight, making these notes invalid in a major assault on black money, fake currency and corruption.

Currency notes of Rs 1000 and Rs 500 will be just paper with no value .

ATMs will not work on November 9, and at some places on November 10 as well

Surgical strike on black money: Key points of PM Narendra Modi's announcements

This is huge! India has just checkmated black money and money laundering markets and the terror financing operations in India, all in one move!

PM Mr. Modi has in new offensive and stringent stance, suddenly and surprisingly, banned the usage of high value currency like INR 500 and INR 1000 from immediate effect.

This will curb the menace of black money hoarding and fake money circulation in India.

A change is indeed lurking at the horizon...a welcome, positive change indeed!

Yup pure brilliance. India being pretty much a all cash society. Okay you don't want to declare assets and pay taxes on them fine by us so we'll make these notes no longer legal/valid tender you can freely change them to these new notes just bring some ID and such. "Thank you come again" Apu from The Simpsons