NEW DELHI: Prime Minister Narendra Modi made the shocking announcement that Rs. 500 and Rs. 1000 notes will, post midnight, no longer be valid. The PM said that the decision would cripple the black money structure in India, and people who had these notes through legitimate means could either deposit them in their bank accounts or exchange them (to a limit of Rs. 4000 per day) for lower denominations in the next 45 days. Banks, however, are shut for two days and ATMs will not work during that time. Exemptions have been made for petrol pumps, hospitals and essential medicine (where these notes can be used for a longer period of time; November 12).

The gravity of the announcement was not lost on the internet. #BlackMoney and #ModiFightsCorruption were trending on Twitter, with the US general elections -- a major world development -- taking a virtual backseat in the news cycle. So what do people think of the announcement? Social media, of course, has the answer… and judging by the responses, people are taking to humour to deal with the blow that their money is virtually blank paper this morning.

Here’s a round up of the best memes and jokes on the black money crackdown.

1. 100s are safe y’all



2. Pablo had it right all along




3. THIS



4. Arnab’s resignation mystery is solved


5. And THIS perhaps collectively sums up the scenario when banks reopen


6. Just in case you’re wondering what’s to become of these notes


7. And if you’re still wondering...


8. 9/11 has new meaning


9. We need this guy now


10. And, umm, this


11. And just incase you’re looking for the bright side


12. And smog is not Arvind Kejriwal’s only problem (BTW, can’t he blame the Delhi smog on people burning notes now?)


13. I got 99 problems


14. Namkeen anyone?


15. Everyone with black money be like (till midnight)


16. Only 90s kids will remember these : (


17. Oh and just in case you think the US elections had nothing to do with it

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