Rs 1,000 and Rs 5,00 currency notes will be no longer legal: PM Modi

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Prime Minister Narendra Modi on Tuesday in an unexpected address to the nation said that the country was doing away with Rs 500 and Rs 1,000 notes in an effort to weed out corruption, black money and in turn poverty and terrorism. Modi said that the government believes the time has come to take a strong decision on tackling poverty and black money.

Starting midnight on November 8, Rs 500 and Rs 1,000 notes will no longer be legal tender.

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