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Thu May 25, 2017 03:22:07 ISTHomeTrainsΣChainsAtlasPNRForumGalleryNewsFAQTripsLoginFeedback
Thu May 25, 2017 03:22:07 IST

Blog Entry# 2053705  
Posted: Nov 09 2016 (13:38)

2 Responses
Last Response: Nov 09 2016 (15:12)
  
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Nov 09 2016 (12:27)   Rs500, Rs1000 notes may be back, if history is a guide - Livemint

IR no more Safe^~   127 news posts
Entry# 2053705   News Entry# 285218         Tags   Past Edits
Mumbai: The central government’s move to withdraw Rs500 and Rs1,000 currency notes in circulation on Tuesday at such short notice may have come as a surprise, but it’s not the first time the government has demonetized banknotes.
Withdrawal of high-denomination rupee notes is a radical measure the government normally resorts to in an attempt to counter forgery.
It has been done at least twice in India’s history in the past time. This time, the attempt is to crack down on black money.
In
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more...
January 1946, Rs1,000 and Rs10,000 banknotes were withdrawn. In 1954, Rs1,000, Rs5,000 and Rs10,000 notes were reintroduced and were again demonetized in January 1978.
The second demonetization has a backstory. In the early 1970s, the Wanchoo committee on black money had recommended withdrawing certain banknotes.
However, this suggestion could not be acted upon because the very publicity given to the recommendation resulted in black money operators getting rid of high-value currency notes.
In 1978, the Janata Party coalition government, which had come to power a year earlier, decided to withdraw Rs1,000, Rs5,000 and Rs10,000 notes by issuing an ordinance on the morning of 16 January that year.

  
Nov 09 2016 (13:38)
For Better Managed Indian Railways~   1933 blog posts
Re# 2053705-1            Tags   Past Edits
It has already been announced the new notes of Rs 500 and 2000 denomination shall be introduced and shall be available in a few days!!

  
1229 views
Nov 09 2016 (15:12)
IR no more Safe^~   21664 blog posts   97596 correct pred (75% accurate)
Re# 2053705-2            Tags   Past Edits
may be 1000 rs not will be back.
who knows

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