The new high security notes of Rs 500 and Rs 2,000 will be available in ATMs across the country from November 11 onwards. The announcement was made finance secretary Ashok Lavasa.
Lavasa told the media in New Delhi that the intention behind declaring the Rs 500 and 1,000 notes as invalid is to curb black money. On the chaos, he said that the market would have reacted to any development in the same manner. Let us wait and see what happens, he also said.
Further Lavasa said that people need money to make big transactions. This is why the Rs 2,000 note was introduced, he also said. He said that initially there would be some difficulty that the people will face. However be rest assured the government has adopted proper measures to help them.