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PM Modi's address to the nation on demonetization of Rs. 500 & Rs. 1000 currency notes. (English)



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many parodies Fazio I hope we ended the

festive season of Diwali with joy and

new hope today I'll be speaking to you

about some critical issues and important

decisions today I want to make a special

request to all of you you may recall

that economic situation in May 2014 when

you entrusted us with an honours

responsibility in the context of Briggs

it was being said that the I in Briggs

was shaky since then we had two years of

a severe drought eight in the last two

and half years with the support of 125

Carolinians India had become the bright

spot in the global economy it is not

just be who are saying this it is being

stated by the International Monetary

Fund and the World Bank in this effort

for development

our motto has been sub Cassatt sub

cabacas we are with all citizens and for

development of all citizens this

government is dedicated to the pool

it will remain dedicated to them in our

fight against poverty our main thrust

has been to empower the poor and make

them active participants in the benefits

of economic progress the pradhan mantri

Jan dhan Yojana

that Janus Suraksha Yojana the pradhan

mantri mudra yogena small enterprises

the stand up India program for Dalits

adivasis and women the pradhan mantri

Ujjwala scheme for gas connections in

the homes of the poor the pradhan mantri

fasal bhima Arantes and modrich receives

each iota to protect the income of

farmers the soil health card scheme to

ensure the best possible heat it's the e

naam the national marketplace team to

ensure farmers get the right price for

the produce these are all reflections of

this approach in the past decades the

specter of corruption and black money

has grown it has become the effort to

remove poverty on the one hand we are

now number one in the rate of economic

growth but on the other hand beaver

ranked close to 100 in the global

collapse corruption perception ranking

two years back in spite of many steps

taken we have only been able to reach a

ranking of 76 now of course the region

provement the source the extent to which

corruption and black money have spread

their tentacles the evil of corruption

had been spread by certain sections of

society for their selfish interests they

have ignored the poor and cornered the

benefits

some people have misused their office

for personal gain on the other hand

bonus people have fought against the

evil corrosive common man and women have

lived this life with integrity we hear

about poor auto rickshaw drivers return

returning gold ornaments left in the

vehicles to their rightful owners we

heard about taxi drivers who take pains

to locate the owners of the cell phones

left behind we hear vegetable vendors

who return access money given by

customers there comes a time in the

history of countries development when a

need is failed for a strong and decisive

step for years this country had felt

that corruption black money and

terrorism are fostering source holding

us back in the range towards development

terrorism is a frightening threat so

many have lost their lives because of it

but have you ever thought about how

these terrorists get that money enemies

from across the border run their

operations within fake currency notes

this has been going on for years he

times those using fake five hundred and

thousand rupee notes have been caught

and many such nodes have been sieged

brothers and sisters on the one hand is

a problem of terrorism on the other hand

if the challenge posed by corruption and

black money we began our battle against

corruption by setting up an SI T headed

by a retired supreme

judge immediately upon taking office

since then a law was passed in 2015 for

disclosure of foreign black money

agreements with many countries including

the USA have been made to add provisions

for sharing banking information a strict

law has come into force from August 2016

to curb ben-ami transactions which are

used to deploy black money earned

through corruption a scheme was

introduced for declaring black money

after paying a steep penalty my dear

countrymen through all these efforts in

the last two and a half years we have

brought into the open nearly one lakh

twenty five thousand crore rupees is not

a small amount

one lakh twenty five thousand crore

rupees a plaque money belonging to the

corrupt owners citizens warn this fight

against corruption

black money benami property tourism and

counterfeiting to continue which honest

citizen would not be pained by reports

of crores worth of currency notes test

under the heads of government offices or

by reports of cash found in Ghana backs

the magnitude of cash circulation it

directly linked to the inflation become

worse through the deployment of cash

earned in corrupt B's the poor have to

bear the brunt of this it had direct

effect on purchasing power of the poor

and the middle class you may yourself

have experience when buying land or a

house

that part from the amount paid by check

a large amount it demanded in cash this

creates problem for an honest person in

buying property the misuse of cash has

led to artificial increase in the cost

of goods and services like houses land

higher education healthcare so on high

circulation of cash also strengthen the

hawala trade which is directly connected

to black money and illegal trade in

weapons debate on the road role of black

money in elections had been going on for

years brothers and sisters to break the

grip of corruption and black money we

have decided that the 500 rupee and

thousand rupee currency notes presently

in use will no longer be legal tender

from midnight tonight that is 8 November

2016 this means that these notes will

not be acceptable for transaction from

midnight onwards the five hundred and

thousand rupee notes hoarded by 18

Estlin and anti-social elements will

become just worthless piece of paper the

rights and the interests of honest

hardworking people will be fully

protected let me assure you the nodes of

150 rupees 20 rupees 10 rupees 5 rupees

2 rupees and 1/2 piece and all coin

we'll remain legal tender and will not

be affected

this step will strengthen the hands of

the common man in the fight against

corruption black money and threat

currency to minimize the difficulties of

citizens in the coming days several

steps are being taken persons holding

all nodes of 500 or 1000 rupees can

deposit these nodes in that bank or post

office account from 10th November till

close of banking our own 30th December

2016 without any limit thus you will

have propre days to deposit your notes

and there is no need for panic your

money will remain yours you need have no

worries on this point after depositing

and in your account you can draw it when

you need it keeping in mind the supply

of new notes in the first few days there

will be a limit of 10 thousand rupees

per day and 20 thousand rupees or pink

this limit will be increased in the

coming days apart from depositing your

notes in your bank account another

facility will also be there for your

immediate needs you can go to any bank

helpeth office or subversive post office

show your identity proof like a darker

voters card ration card passport income

tax pen card number

or other Apple poops and exchange your

old five hundred or thousand rupee notes

for new notes from 10th November till

24th November the limit for such

exchange will be four thousand rupees

from 25th November till 30th December

limit will be increased there may be

some who for some reason are not able to

deposit their old five hundreds or

thousand apiece notes by 38 December

2016 they can go to specific office of

the Reserve Bank of India up to 31st

March 2017 and deposit the notes after

submitting a declaration form on 9th

November and in some places on 10th

November also ATM will not work in the

first few days there will be a limit of

two thousand rupees per day per card

this will be raised to four thousand

rupees later five hundred and thousand

rupee notes will not be legal tender

from midnight however for humanitarian

reasons to reduce hardship to citizens

from special arrangements have been made

for the first 72 hours that each till

midnight on 11th November during this

period government hospitals will

continue to accept five hundred and

thousand rupee notes for payment this is

for the benefit of those families whose

members may be unwell

pharmacys in government hospitals will

also accept these nodes for buying

medicines with doctor's prescription for

72 hours till midnight on 11th November

railway ticket bookings counters ticket

counters of government buses and airline

ticket counters at airports will accept

the old nodes for purchase of tickets

this is for the benefit of those who may

be traveling at this time for 72 hours

five hundred and thousand rupees knobs

will be accepted also at petrol diesel

and cng gas stations authorized by

public sector will comprise consumer

cooperative stores authorized by state

or central government milk booths

authorized by state governments

crematoria and burial grounds these

outlets will have to keep proper records

of stock and collections arrangements

will be made at international airports

for arriving and departing passengers

who have five hundred or thousand rupee

notes for not more than five thousand

rupees to exchange them for new notes or

other legal tender one more thing I

would like to mention I want to stress

that in this entire exercise there is no

restriction of any kind on non-cash

payment by cheques demand Roth debit or

credit cards and electronic fund

transfer brothers and sisters in spite

of all these efforts there

maybe temporary hardship to be faced by

honest citizens experience tells us that

ordinary citizens are always ready to

make sacrifices and face difficulties

for the benefit of the name I see that

spirit when a poor Widow gives up her

LPG subsidy when a retired schoolteacher

contributes his pension to the swatch of

her mission when a poor Adivasi mother

sells her goods to build a toilet when a

soldier contributes fifty seven thousand

rupees to make his village clean I have

seen that the ordinary citizen has the

determination to do anything if it will

lead to the country's progress so in

this fight against corruption black

money fake currency fake notes and

terrorism in this movement for verifying

our country will ever people not put up

with difficulties for some days have

full confidence that every citizen will

stand up and participate in this my Jana

My dear countrymen after the festivity

of Diwali now join the nation and extend

your hand in this Amanda Rika saw this

traumatic caçapava this celebration of

integrity this festival of credibility I

am sure that all political parties all

governments social services

organizations the media and indeed all

section of society will take part in

this with enthusiasm and make it a

success

my dear countrymen secrecy was essential

it is only now as I speak to you that

various agencies like banks post-office

railways hospitals and others are being

involved the Reserve Bank banks and post

offices how to make many arrangements at

very short notice obviously time will be

needed

therefore all banks will be closed to

the public on 9th November this because

some hardship to you I have full faith

that banks and post offices will

successfully carry out this great task

of national importance however I appeal

to all of you to help the banks and post

offices to meet this challenge with

polls and determination My dear citizens

from time to time based on currency

needs the Reserve Bank with approval of

the central government brings out new

nodes of higher value in 2014 the

Reserve Bank sent a recommendation for

issue of 5010 choreography notes after

careful consideration this was not

accepted now a part of this exercise

RBI's the Reserve Banks recommendation

to issue two thousand rupees notes has

been accepted new nodes of 500 rupees

and two thousand rupees with completely

new design will be introduced based on

past experience the Reserve Bank will

hear up

make arrangements to limit the share of

high-denomination nodes in the total

currency in circulation in countries

history that come moments when every

person feels he too should be the part

of that moment that he too should make

his contribution to the country's

progress such moments come but rarely

now we again have an opportunity where

every citizen can join this Mahayana

again the yields of corruption black

money and fake notes the more help you

give in this campaign the more

successful it will be it has been a

matter of concern for all us their

corruption and black money tend to be

accepted as a part of life this type of

thinking has afflicted our politics our

administration and our society like an

infrastructure of termites

none of our public institutions is free

from these termites time and again have

seen that when the average citizen has

to choose between accepting dishonesty

and bearing inconvenience E they always

choose to put up with inconvenience they

will not support dishonesty once again

let me invite you to make your

contribution to this grand sacrifice for

cleansing our country just you just as

you clean your surroundings during

diwali let us ignore the temporary

hardship

let us join this festival up

and credibility latest enable coming

generation to live their life with

dignity latest fight corruption and that

money let us ensure that the nation's

will benefits the part

let us enable law-abiding citizens to

get that do share of a confident in 125

corrode people of India and I am sure

country will get success thank you very

much thanks a lot na sharp Bharat Mata

ki jai the construction