Modi’s Goa Speech & Other Developments On Currency Ban


PM Modi today addressed the whole nation along with Goa from Panaji, Goa. Modi got emotional today while delivering the speech. He asked people to give him 50 days and have patience till December 30th to see the result of his huge decision to fight corruption and to clear the black money.

He asked for people’s support. He told that he knew all the consequences of his decision. He said, I know people are suffering, standing in long queues to exchange or deposit there scrapped money. He also appreciated everyone for supporting him. He said, “I bow down my head to the people of this country as they are standing in long queues to exchange there Rs.500 and Rs.1000 currency notes without any violence. These are the people who hates waiting in queues to get a movie ticket but standing continuously with patience and without getting tired in banks to support my decision for the betterment of the country.” He also added, “I also thank and appreciate all the bank employees working continuously to help people getting there money exchanged.”

He got emotional saying, “I was not born to sit on PM’s chair.” He further added, “I sacrificed whatever I had, my family, my home for the nation.”

“We took this step to give justice to honest citizens of our country and to fight corruption.” He also added, “People have chosen us as they had expected so much from us. In 2014, so many people voted to free the nation from corruption.”

“People voted me in to fight corruption, Shouldn’t I do it?” asked PM Modi. “If any money that was looted in India and has left Indian shores, it is our duty to find out about it,” PM Narendra Modi added further.

He also said that, we have also made changes in our foreign policies and agreements to keep track of the money going outside of the country whether it’s black or white. “We are keeping track of Indian accounts in foreign countries too,” he added.

“We had also introduced a scheme to allow people to help them turn there black money into white, by just depositing some percent of there black amount. People had participated in that too and first time we were able to collect Rs.67,000 crore,” aid PM Modi.

A total of Rs.1,25,000 crore has been deposited in Government Treasury till now, told Prime Minister of India.

“I feel people’s pain too, but, the steps taken were not the display of my arrogance. I have seen poverty and people’s problem.”

He asked to give him 50 days and said, if I have committed any mistake then I’m ready to take any punishment the people of the country will give me.

“This suffering is just for 50 days and I promise you, after cleanliness, not even a mosquito can fly.” He added, “In next 17 months, I will remove all the corruption and will give people the India they dreamed of.”

“I will expose corruption and all the black money holders since the day India got Independence.” He also said, If I have to employ 1 lakh employees for that, I will.

“I have more projects in my mind to remove every bit of black money from the country. And to ensure this, cooperate with me for 50 days.”

At last, he said “I know the forces are up against me, they may not let me live, they may ruin my life as their 70 years of loot is in trouble, but, I will fight and I’m prepared for it.”

Time to talk about the developments, SBI (State Bank of India) got deposits worth Rs.75945 crore till Sunday evening. To ease the queues in banks, government has launched Rs.500 banknotes. Now, instead of distributing all the Rs.100, Rs.50, and Rs.10 notes in exchange, banks will also be giving away new Rs.500 notes. This will definitely ease the queue in bank. ATM limit has also been raised to Rs.2,500 per day. Exchange amount limit has also been raised to Rs.4,500 per day.

The new banknotes can not be stacked in ATMs as they need to be recalibrated. According to the latest updates, all the ATM machines will be recalibrated within two weeks. Withdrawals from banks are now limited to Rs.24,000  a week as daily withdrawal limit of Rs.10,000 has been removed. That means, you can now withdraw Rs.24,000 at once or in a week. There will also be a restriction of Rs.2,500 per day per card for few days, which will later be raised to Rs.4,000.


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