Blog Entry# 2053705
Posted: Nov 09 2016 (13:38)
Last Response: Nov 09 2016 (15:12)
Other NewsNov 09 2016 (12:27) Rs500, Rs1000 notes may be back, if history is a guide - Livemint
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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.
Nov 09 2016 (13:38)
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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!!
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