Navsari, November 16: The Navsari police in Gujarat has seized demonetised currency notes of Rs 500 and Rs 1,000 amounting to Rs 69 lakhs. It has been more than two years, since Rs 500 and Rs 1,000 currency notes were demonetised. This is the largest number of demonetised notes seized by the police in recent months. Currency notes of Rs 500 and Rs 1000 were declared non-legal tender on November 8, 2018 by Prime Minister Narendra Modi in a sudden announcement. Narendra Modi Demonetisation Full Speech: What Prime Minister Said on November 8, 2016, While Announcing Rs 500 and Rs 1000 Currency Note Ban.
Navsari police also shared a picture with the cash stash showing old Rs 500 and Rs 1,000 notes. RBI Annual Report 2017-18: 99% Banned Notes Returned, Circulation of Currency More Than Pre-Demonetisation Days Now.
Check the ANI tweet below:
Gujarat: Navsari police has seized demonetised currency notes of Rs 500 and Rs 1000 with the face value of Rs 69,07,500 pic.twitter.com/01ZEFto2T2
— ANI (@ANI) November 16, 2018
Talking about demonetisation, Prime Minister Narendra Modi on November 8 announced demonetisation of Rs 500 and Rs 1000 currency notes. The move was a highly debated step and till date remains one of the most polarising topics in both public and political field. PM Modi Responds to Rahul Gandhi's Tirade on Demonetisation, 'None But One Family Still Crying Over Note Ban'.
Earlier in August, the Reserve Bank of India (RBI) announced that over 99 per cent of the Rs 15.3 lakh crore taken out of circulation through demonetisation in November 2016 has returned to the Reserve Bank of India (RBI), following which former Finance Minister Arun Jaitley said in a Facebook post that the "larger purpose of demonetisation was to move INDIA from a Tax Non-compliant society to a complaint society."