Rs. 1000, Rs. 500 currency notes stand abolished from midnight: PM
"We need to take a new solid step to fight black money," Modi said.
"From now on, Rs. 500 and Rs. 1000 notes will not be used," Modi said.
"Have 50 days to turn them into banks and post offices," he announced.
He said corruption and black money issues are diseases which are hurting the nation.
"Black money, corruption and terrorism have been biggest threats to the nation," Modi said.
"Enemies from across the border are pushing fake currencies into India," said he.
PM Modi also urged all citizens to cooperate with the new move.
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