Rs 500, Rs 1,000 notes banned, new Rs 2,000 note: Twitterati expect major real estate crash
Prime Minister Narendra Modi in his address to the nation took the country by storm with his announcement to make Rs 500 and Rs 1,000 notes untenable as legal tender post midnight on 8 November, 2016.
Prime Minister Narendra Modi in his address to the nation took the country by storm with his announcement to make Rs 500 and Rs 1,000 notes untenable as legal tender post midnight on 8 November, 2016.
Rs 1000 note: Soon to become part of memory
The prime minister said that this was done 'in a grand sacrifice to cleanse the country like you cleanse your surroundings', the government has decided to make Rs 500 and Rs 1000 notes no more legal tender post midnight tonight. So these notes in your possession are mere useless pieces of paper.
Modi said the measures were aimed at curbing the “disease” of corruption and black money which have taken deep root. “There is a need for a decisive war against the menace of corruption, black money and terrorism… Corruption, black money and terrorism are festering wounds which make the country hollow from within,” he said.
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Twitteratti termed it a 'surgical strike on black money'. Here are some of the 'note'-worthy tweets:
Some chose to see the word 'ban' in this manner:
Narendra Modi announces ban on Rs 500 and Rs 1000 currency notes. Were they kissing publicly?
— Gini Khan (@giniromet) November 8, 2016
Which party would benefit, asked some:
Will the ban on rs 500 and Rs 1000 currency notes affect Samajwadi Party, BSP and Akalis more or the Congress ? # PMonBlackmoney
— uttam sengupta (@chatukhor) November 8, 2016
West Bengal Chief Minister Mamata Bannerjee also weighed on in the sudden decision and tweeted:
While I'm strongly against black money, corruption, deeply concerned about common people, small traders. How they will buy essentials tomo?
— Mamata Banerjee (@MamataOfficial) November 8, 2016
This is a financial chaos and disaster let loose on the common people of India...
— Mamata Banerjee (@MamataOfficial) November 8, 2016
This is a financial chaos and disaster let loose on the common people of India...
— Mamata Banerjee (@MamataOfficial) November 8, 2016
I want to know from PM how my poorest brothers sisters,who've recd their week's hard earned wage in one 500 re note will buy ata,chal, tomo?
— Mamata Banerjee (@MamataOfficial) November 8, 2016
Heartless and ill- conceived blow on the common people and the middle class in the fake name of anti-corruption
— Mamata Banerjee (@MamataOfficial) November 8, 2016
WITHDRAW THIS DRACONIAN DECISION
— Mamata Banerjee (@MamataOfficial) November 8, 2016
Some saw it as another means of promoting black money by the government:
Who's idea is this? Instead of eliminating Rs 500 and Rs 1000, now they introduce Rs 2000. Looks like RBI itself promotes black Money. https://t.co/Y3hh1vqbgU
— Srinivas (@svdvizag) November 7, 2016
Sagarika Ghose, television presenter saw this move as impacting property prices and also termed it an action a la Indira Gandhi and the Emergency:
Best impact of #rs500 and Rs 1000 is overheated property prices will crash and correct. Thats all to the good! — Sagarika Ghose (@sagarikaghose) November 8, 2016
Big Brother announcement a la Indira Gandhi. If it works to clean up black money, great. If it doesn't there will be mass pain for nothing
— Sagarika Ghose (@sagarikaghose) November 8, 2016
The government will scrap Rs 1000 notes and introduce Rs 2000 currency notes. And how easy would it be to get change for a Rs 2000 rupee note?
Now after a long Auto ride, if you give an AutoWala a 2000 Rs note, the Auto Wala will call his fellow Autowalas to kick your ass 😂 — Gabbbar (@GabbbarSingh) November 8, 2016
Amitabh Bachchan is happy that to be introduced new currency Rs 2000 notes are in the shade of pink. Big B drew a parallel with his recently released film, Pink:
T 2435 - the new 2000 rs note is PINK in colour ... the PINK effect ..!!
— Amitabh Bachchan (@SrBachchan) November 8, 2016
This is what you could use the Rs 500 and Rs 1000 notes, if you cannot exchange them at the bank for obvious reasons:
One of many usages of #BlackMoney notes pic.twitter.com/iyonvvoPbh — Vetranary ? (@psr1026) November 8, 2016
While America is waiting with bated breath like the rest of the world to see who will head the country, most of India will be sleepless wondering what to do with their Rs 500 and Rs 1000 currency with banks and ATMs shut tomorrow:
America counting votes, India counting Rs 500, Rs 1000 notes.
😁😂😂 Another surgical strike by Prime Minister Modi. #BlackMoney
— भारत माता की जय (@pgadtia) November 8, 2016
Some did not forget controversial businessman Vijay Mallya
Vijay Mallya must be the happiest person this time. Got officially Bankrupt before this Rs 500/1000 ban. Nothing to exchange.#BlackMoney — Atul Kr. Jha (@imakj) November 8, 2016
The many uses of Rs 500 and Rs 1000 currency notes evoked the funny bone in some:
Meanwhile 😂😂😂😂😂😂😂
Rs 500 #BlackMoney pic.twitter.com/ZPohXs9eYB— Ritika Singh (@FilmyOwl) November 8, 2016
That the Father of the Nation would be on the new notes was highlighted by Abhinandan Sekhri of Newslaundry with this tweet:
Honest question by elderly person watching speech with me "Naye note mein bhi Bapu Gandhi ki photo hogi kya?" with a straight face ha ha
— Abhinandan Sekhri (@AbhinandanSekhr) November 8, 2016
— Abhinandan Sekhri (@AbhinandanSekhr) Ranjona Banerjee, journalist, felt this move would affect small traders:
The way i see it, big corruption happens in offshore money. This Rs 500/1000 note scheme will affect small traders/brokers.
— ranjona banerji (@ranjona) November 8, 2016
Vijay Shekhar Sharma of Paytm was a happy man with the government's move, but obviously:
The biggest,the boldest & the most ambitious surgical strike by any government in the world. Hats off to our PM for removing ₹500/1000 notes — Vijay Shekhar (@vijayshekhar) November 8, 2016
Keep the money digital. Superb step by our dear PM @narendramodi
From a bit inconvenience to incredible bold step ! #win #🇮🇳— Vijay Shekhar (@vijayshekhar) November 8, 2016
Also read:
Rs 500, Rs 1,000 note ban: Industry terms it 'watershed' moment in fight against black money
Rs 500, Rs 1,000 to go off immediately, Hasmukh Adhia calls is 'surgical strike on black money'
Rs 500, Rs 1,000 banned: Resale property market, small builders to be hit by PM Modi's revelation
New Rs 2,000 note, Rs 500 and Rs 1,000 banned, withdrawal limit set: Key points from PM Modi's address
Rs 500, Rs 1,000 banned: Govt's currency strike to push many towards gold
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