Rs 500, Rs 1,000 to go off immediately, Hasmukh Adhia calls is 'surgical strike on black money'

Finance Secretary Ashok Lavasa said the step is another move to attack the biggest menace facing the country.

PTI November 08, 2016 23:07:44 IST
Rs 500, Rs 1,000 to go off immediately, Hasmukh Adhia calls is 'surgical strike on black money'

New Delhi: The government's move to withdraw currency notes of Rs 500 and Rs 1,000 denomination is its boldest step and a "surgical strike on black money", Revenue Secretary Hasmukh Adhia said on Tuesday.

Rs 500 Rs 1000 to go off immediately Hasmukh Adhia calls is surgical strike on black money

Revenue secretary Hasmukh Adhia. Image courtesy PIB

Prime Minister Narendra Modi on Tuesday announced demonetisation of Rs 1,000 and Rs 500 notes with effect from
midnight, making these notes invalid in a major assault on black money, fake currency, and corruption.

"This is the biggest and the boldest step by the government for containing black money. It is like a surgical
strike on black money," Adhia tweeted.

Finance Secretary Ashok Lavasa said the step is another move to attack the biggest menace facing the country.

"Citizens must understand, cooperate & join the fight against corruption," Lavasa tweeted.

Modi said people holding notes of Rs 500 and Rs 1,000 can deposit the same in their bank and post office accounts from 10 November till 30 December.

Also read:

Rs 500, Rs 1,000 note ban: Industry terms it 'watershed' moment in fight against 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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While one can exchange the banned notes by depositing it with the banks till 30 December 2016, the government, however, in order to avoid inconvenience to common public has also provided a 72 hour window to use the banned currency denomination at places other than the banks