Many were surprised when Prime Minister of India Narendra Modi announced the discontinuation of 500- and 1000-rupee notes on Tuesday in an attempt to curb fraud, corruption and illegal tax evasion, and illegal cash holdings. Citizens will have from Nov. 10 through Dec. 30 to...
And just like that, two swaths of Indian currency are gone. Prime Minister Narendra Modi has announced that the country’s 500-rupee and 1,000-rupee banknotes are no more, on the outs, and are being taken out of circulation. As reported by the BBC, taking those notes out...
November 17, 2016
The recent efforts by the Indian government to reform what has traditionally been known as a “cash economy” have thrown daily life in India into a tumult, Bloomberg reported Thursday. As has been widely reported, the removal of the 500-rupee and 1,000-rupee notes from circulation and legal tender status has been aimed at hitting tax evaders. It […]
November 09, 2016
Many were surprised when Prime Minister of India Narendra Modi announced the discontinuation of 500- and 1000-rupee notes on Tuesday in an attempt to curb fraud, corruption and illegal tax...
November 08, 2016
And just like that, two swaths of Indian currency are gone. Prime Minister Narendra Modi has announced that the country’s 500-rupee and 1,000-rupee banknotes are no more, on the outs,...
