Kolkata: In a special and sudden address to the nation, Prime Minister Narendra Modi has announced that starting midnight, the existing Rs. 500 and Rs. 1,000 notes are illegal. They must be deposited by the end of December at post offices and banks, he said, describing the move as essential to fight “the disease of black money.”
A proposal new Rs. 500 and Rs. 2,000 notes have been cleared by the Reserve Bank of India.
On a contrary, West Bengal Chief Minister Mamata Banerjee tweets, “While I’m strongly against black money, corruption, deeply concerned about common people, small traders. How they will buy essentials tomo?”