Prime Minister Narendra Modi called on President Mukherjee this evening (November 8, 2016) and briefed him of the decision of the Government to declare that all Rs. 1000 and 500 currency notes will cease to be legal tender from midnight of tonight (November 8, 2016). He also informed that these notes can be used for certain purpose for a limited period.

President Mukherjee welcomed the bold step taken by the Government which will help unearth unaccounted money as well as counterfeit currency.

He called upon people not to panic and to follow the Government’s guidelines for exchanging currency notes of Rs 1000/500 denomination available with them. He reminded that all currency notes below Rs 500 will continue as legal tender.

President Mukherjee called upon all persons to avail upon the opportunity provided by the Government to exchange currency notes of Rs 1000 and 500 denomination for new legal tender.

This release issued at 2145 hrs.