Old 500,1000 Notes Banned
Our Prime Minister Narendra Damodardas Modi has taken an excellent and strong decision that he has banned old 500 & 1000 rupees notes from India and new 500 & 2000 rupees notes have added in Indian economy.
The PM told that it has been worthless to render the old 500 & 1000 rupees. He also told that these new notes and crackdown on black money would resist the false notes threat.
According to the Intelligence agencies, Pakistan, and any other criminal groups cannot replicate the new 500 and 2000 notes due to its security features.
A top government officer told TOI that Intelligence Bureau, External Intelligence Agency Research and Analysis (RAW) team and DRI had inspected the multiple security features of these new notes for six months, but they do not disclose how many security features have been added to the new notes. However, they told it is impossible to falsify.
The Indian government got information from the intelligence group that in Peshawar the is a mint where only false Indian currency mostly 500 and 1000 rupees notes were being. Intelligence Agency told that Pakistan had accomplished “zero-error counterfeit capability” on Indian Currency. This danger cannot be overstated.
Intelligence Agencies Says PAK Can’t Copy New Notes
The Pakistan Intelligence Agency ISI supervises the mint, and different criminal networks push the fake Indian Currency to India.
Every year approximately 70 core value fake Indian Currency Notes are driven in India by Pakistan, and those notes are used as “terror fund” and create violence.
A Specific International Line (PIL) has been cased in Supreme Court against Modi government decision to demonetize the quantity Indian notes mostly 500 and 1000 rupees. The PM’s declaration can spoil back money, terrorism, and fake currency but it creates an economic crisis at living cost of 1.25 billion Indian citizens. It is also a big problem.
Advocate Jamshed Mistry and Jabbar Shaikh have gone to Bombay High Court on Wednesday to file against the ban of 500 and 1000 rupees notes. They alleged this decision is not valid. The judge told the advocates to assume this issue when after Diwali vacation when the court will be resumed.
There are having some boundaries to check the threat of back money and render new notes overnight. There are several windows opened to exchange your old notes. You can go to the bank and post office to deposit the old notes and get new notes which are printed for security purpose.
Get New 500 And 2000 Notes from RBI, Banks
You can visit any office of Reserve Bank of India or the branch of your bank to credit the previous notes. You can get this facility from 10th November to 30 December 2016. You can exchange up to 4000rs. Cash from the counter of any bank branch, head office of any bank and the sub-post office. You need to carry your voter card or pan card or any other identity proof to exchange the money.
But there is no restriction on the cheque payment or deposit, demand draft, payment through debit or credit card and electronics fund transfer.
Source : TOI