India has made a strict decision of banning regular 500 and 1000 rupee notes from circulation which is a result of finding 1.25 lakh crore black money. Indian government believes that by taking this decision we can hit black markets down and you would be least circulation of black money and fraud would not take place.
Prime Minister Narendra Modi has called an emergency address speech, where he revealed to the country that 500 and 100 rupee notes are to be discontinued from midnight today. I know how defective decision it is but it is true and will be staunch decision of striking off usage of 1000 and 500 Rupee notes currency in India. This decision has been made by the present government under the PM who says, IMF and World Bank states India is an economic star now.

Instead of 500 and 1000 Rupee notes RBI will be issuing 2000 rupee notes effective from Feb 2017 which will be a regular currency circulation over India.
All those people who are worrying what to do with the stacks of 500 and 1000 notes, need not to glaze and run punching on the government. Because they have released a statement saying that all the remaining 500 and 1000 rupees notes are to be deposited at neat by Post Offices, banks by 30th Dec.2016.
Every citizen will be allowed to withdraw 10,000 Rupees from Bank or ATM per day and 30,000 per week which seems to be less. This ban on notes can be major stroke on Indian economy but we will, have to wait and watch how it turns out to be.

  PM modi speech, Rs.1000 banned, Rs.500 banned