Black Money Removal Scheme Old 500 and 1000 Notes Scrapped

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Indians is satisfied with the historical decision of Prime Minister Mr. Narendra Modi on 8th November 2016 which is against to Black Money Removal. That is the first time where the government has given the smile on public faces. Black money removal scheme and old 500 and 1000 noted scrammed is a bold step which is taken by PM Shri Narendra Modi in mid night of 8th November. That is very calculative pre-decided scheme which is against to the scamp black money, corruption, counterfeit currency, improve the economy. Actually a since a few months continuously government talked about fill the income tax and income declaration. But various people not taken it seriously and now the decision of scrapped the 500 and 1000 notes are slapping on a corruption of money.

If you have 500 and 1000 notes then what to do:

The government decides the limit of credit the 500 and 1000’s note in the bank and other places in the given limit. So if you have it then you can credit cash in the banks, post office and take it from the banks and debit it from your account. That service started from 10th November 2016. That is a master plan where RBI supported the most mind-blowing personality of India Prime Minister Shri Narendra Modi. Hospitals and petrol pumps, railways and airways are illegible to take the 500 and 1000’s notes for 40 days. That decision of Black Money Removal is solid punch. 

There are some important points you need to follow:

  • Everyone can exchange the 500 and 1000 Rs note from Post Office and Banks.
  • Get the 4000 Rs. One person in cash.
  • You need to copy of any identity proof as Pen Card, Aadhar Card, and Passport copies during the exchange the notes.
  • If you don’t have an account in a bank then you may use the friends and relatives bank account for credits the money.
  • This scheme is valid up to 30th December 2016.
  • If you are not unable to deposit till 30th December 2016, you may submit the note to RBI until 31st March 2017.
  • You have to use the request slip if you exchange the high denomination note.
  • In case, you are not present in India then you can deposit the notes in the bank through one Authorized person who is in India.

This is not a sudden decision taken by Modi or RBI, in fact, that is predefined decision and that’s because lots of schemes are already derived before it. That scheme was Jan Dhan Yojana (Bank account for all), Bank accounts linking with Aadhar Card, Aadhar detail in Income Tax Return and Disclosure of Bank Account, Income Disclosure Scheme extension, Income Disclosure Scheme. That is the master stock and it works and it’s an ultimate even great strategy follow this plan. Public really smile because may be its fly the equalization in India and corruption and black money is thrown by many. Black money removal decision is really good for growth of India.

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