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Don’t panic, stop exchanging Rs 500 notes for Rs 300: Modi

black money crackdown Updated: Nov 13, 2016 16:36 IST
Rs 500

Mopa: Prime Minister Narendra Modi addressing the gathering during foundation stone laying ceremony of Greenfield Airport in Mopa, Goa on Sunday. PTI Photo(PTI11_13_2016_000061B)(PTI)

Prime Minister Narendra Modi on Sunday asked people not to sell their Rs 500 and Rs 1000 notes for smaller amounts.

“Don’t give your notes to anyone in a hurry. You have time till December 30. The government will pay you back in full. The government is committed to give your full money,” Modi said during a rally in Belgaum.

“My appeal to people is not to panic by bartering Rs 500 for Rs 300,” he added.

He admitted that the move is inconvenient for common people. “There is pain among people due to my decision (to demonetise high currency notes), but the nation will gain from this,” he said.

“I’ll stand by you till the very end,” the Prime Minister added.

“For 70 years the country has been looted, give me 70 months and I’ll clean up the entire nation (from black money).”

He also appreciated bank officials for working tirelessly for effective implementation of the move.

“Even retired officials offered voluntary services and this is commendable,” said Modi.

Modi arrived in Belgaum after a three-hour visit to Goa where he laid the foundation stone for a new greenfield airport at Mopa plateau and an electronic city in Tuem, both in Pernem sub district.