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Title: India currency bombshell Post by: pawel7777 on November 08, 2016, 10:56:23 PM He did it, absolute madman. Today Indian Prime Minister N. Modi pulled 500 and 1000 rupees banknotes out of circulation. From midnight, those will no longer be a legal tender. That's what I call a short notice.
Official reason: too much "black money" in the economy. Unofficial: to force people to declare their cash-stash and pay tax on it if they haven't. http://www.bbc.co.uk/news/business-37915359 http://www.aljazeera.com/news/2016/11/india-pulls-500-1000-rupee-notes-fight-corruption-161108183957324.html http://www.financialexpress.com/india-news/live-india-marks-its-presence-as-a-bright-star-in-global-economy-pm-narendra-modi/441332/ http://www.wsj.com/articles/india-to-phase-out-current-500-and-1000-rupee-bank-notes-1478619693 |