Why Indian Government change/banned 500 rupee note?

In India 2015 to 16 the corruption rate is increased, the P.M Narendira Modi government call the black money holders to submit their money to government but we know this is not possible , finally the government of India take a very secret and brave operation at the night of early Wednesday.  

   Pakistan and Bangladesh are create fake Indian currency notes and they spread it to India this also a important reason to change currency note model.  

  In these year 1000 rupee note are spread by Indian government at 107% and 500 as 78% but Indian academic year economy is increase only 33% approximately. that also the main reason to change currency note design by government this deal is first accepted by RBI then they issued and Introduced the  New 500 and 2000 rupee notes, then they said soon 1000 rupee notes also came these are circulated in India after 11th November.

   And Modi Government think person who exchange or deposit or save money for more than their income they are easily identified by the Income Tax deportment.

    This was very shocking news for all the peoples and bank employees too, and one month before too peoples can withdraws new 500 rupee currency notes, but until November 8 these are banned.

   peoples are shocked and blockade the ATM centers because November 9,10 the ATM machines does not work, Bank also stopped their currency dealing at November 9 so peoples are feared and collect some money form ATM for their needs.

   After November 11 The new 500  and 2000 rupee notes only circulated in all over India, as usual the 10,20, 50, 100 rupee notes are valid.

What do I do now?

Here is what you do with 1000 and 500 rupees notes you have

Deposit old 500 rs and 1000 rs notes in bank or post office accounts from 10th November till 30th December 2016 without any limit. ID proof (Aadhaar card and PAN Card) will be required. The limit is Rs 4000 upto 24th November.

Banks will be happy to exchange a few thousand rupees, but will be asking questions of those who turn up with hundreds of thousands or millions in currency.

After December 30, these can be deposited at the Reserve Bank with a declaration

There will be a withdrawal limit of Rs 10,000 per day and Re 20,000 per week. This limit will be increased in the coming days.

How long have people got to change their old notes at banks?

People will be able to exchange their money at banks between 10 November and 30 December. New 500 and 2000 rupee denomination notes will be issued to replace them. Banks have been told to exchange existing high denomination rupee notes over the next 50 days.

How long can people continue using their old notes?

Your 500 and 1000 rupee notes be accepted until the next 72 hours (i.e. till November 11) at:

• Airports
• Railway stations & Government Bus Ticket Counters
• Government Hospitals
• Petrol and diesel gas stations
• Consumer co-operative stores authorized by state or central government
• Milk booths authorized by state government
• Crematoriums and burial grounds.

What about cash-less payments?

No restriction of any kind on non-cash payments by cheques, demand drafts, debt or credit cards and electronic fund transfer.

What if I am Tourist?

If you are a tourist, you can change the notes at airports.

How does the new Rs.500/-Rupees Note and Rs.2000/- New Note look?

India's New Rs.500/- Rupees Note

 India's New Rs.2000/- Rupees Note