Nagpur: PM Modi scrapped the existing currency denominations of Rs 500 and Rs 1,000 to combat black money, corruption and terror-financing. “These notes will just be paper from tomorrow,” Prime Minister Modi said. Notes and coins of all other denominations continue to be legal tender. ATMs will not function till November 9 and in some places till November 10.
After this announcement People throng to nearest ATMs in huge numbers in City.