Your last transaction with a 500 and 1000 rupee note

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Your last transaction with a 500 and 1000 rupee note

It's a great, bold and surprising move by our honorable leader Mr.Modi to scrap the highest denomination Indian rupees to put a control on black money. Now new currency notes will be available on Indian markets. I think, only a few will preserve an expensive 1000 or 500 rupee note for memory and most of us will let it go from our hands (a few may take selfies for memory :)).

Now the currency can be exchanged only through banks and post offices and except at hospitals, petrol bunks and railway bookings, these currencies have value worth just a paper. If you recollect your memory, when did you spend a 500/1000 rupee note for last time to buy something (not petrol, hospital bill and railway ticket). Recollect it quick and post as reply, as our present 500/1000 rupee notes will become a part of our memory soon.

500 and 2000 denominator notes are to return to Indian market with a new face. But I don't know the destiny of a 1000-rupee note.

Sandhya Rani

Category: General Knowledge 8 years ago

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Arunima Singh · Answer 1 · 2016-11-10 12:23:54

Great move and we are honored to witness a monumental move.

I hardly keep cash as most of my transactions are using cards, cheques and sodexo coupons. However, we always kept Rs5000 untouched in our home for rainy days or days when things go out of plan like ATM not working or problem with card.

That 5000 was the only 1000 annd 500 left with us. Me and my husband used them to fill our car tanks and the left were used to buy our regular medicines- my husband's Diabetic pills, which we generally used card to purchase.

jabeen · Answer 2 · 2016-11-13 10:42:15

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Normally I keep around Rs5000 in cash for any kind of emergency and the currencies are always in 500Rs or Rs 1000 notes as it is easy to carry them around. So I was worried when I went for marketing two days ago. However the shopkeeper accepted the Rs 1000 currency note when I purchased a book. I still ve some Rs 500 & Rs 1000 notes with me. Shall deposit it in bank next month when normalcy returns

Answered 8 years ago

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jabeen

usha manohar · Answer 3 · 2016-11-09 08:45:52

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This is the best economic move ever taken by any leader in India. It plugs black money transactions effectively..one can understand how much money is floating just by the fact that all jewellers and petro pumps were doing full business yesterday night soon after the announcement right until midnight. I used my 500 rupee note to pay for the gas cylinder this morning,also used a rs 1000 note for buying petrol by showing my Aadhar card. So, there is no hassle since one can freely use the debit and credit card for a purchases..no doubt for two days until the new notes cone into circulation and thebabks and ATMs start work , people may face some difficulties.

Answered 8 years ago

Yes of course. It's a well planned move from PM's side. Nets were already planted deep before he announced 'the shocking information' soon after the closing hours of banks of India. Through this single move, he has proved that he is the strongest PM India has ever produced. I doubt even Nehru can do such a bold attempt. - Sandhya Rani - 8 years ago

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usha manohar

rambabu · Answer 4 · 2016-11-09 09:51:22

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PM Modi's move is historical. Modi definitely goes down in the History as the most able Leader. He is the best thing that happened to India after independence. It was a week ago I had done some transactions for buying my monthly rations. Yes, now i may keep 1000 and 500 notes as Souvenirs.

Answered 8 years ago

it's good to know. while watching hindi oldies, we can see big notes. Do you anything about big sized notes of 1960s, or they are just shown for movies? Size of new notes will be reduced. That's why I thought currency of 1960s was different from today. Do you have anything of this kind as your 'memory stock' :)? - Sandhya Rani - 8 years ago

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rambabu

Swetha Shenoy · Answer 5 · 2016-11-09 11:11:57

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In this modern technology and world, better to keep a photograph of the note rather than keeping it as memory, If in due course the people would keep this as antique, then I am sure it will not sell much since it was demonitised!

Answered 8 years ago

Now people will collect 1000 rupee notes instead of 50 p stamps :) - Sandhya Rani - 8 years ago

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Swetha Shenoy

Divya · Answer 6 · 2016-11-10 07:59:14

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i also changed my 1000rs for petrol.. now i have a sole 500 in hand.. :)

Will exchange in the bank with along with savings of my maid :)

Answered 8 years ago

Isn't it a bad idea to let of your hands something with the price of antique? haha. After 10 years, a single 500 rupee note may cost more than 10K rupees. - Sandhya Rani - 8 years ago

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Divya

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Your last transaction with a 500 and 1000 rupee note

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