On 8 November 2016, the Government of India announced the demonetisati... - dofaq.com
indian 500 and 1000 rupee currency demonetization

On 8 November 2016, the Government of India announced the demonetisati...

wikipedia - 10 Nov 2016
On 8 November 2016, the Government of India announced the demonetisation of all ₹500 (US$7.40) and ₹1,000 (US$15) banknotes of the Mahatma Gandhi Series. The government claimed that the action would curtail the shadow economy and crack down on the use of illicit and counterfeit cash to fund illegal activity and terrorism. The sudden nature of the announcement—and the prolonged cash shortages in the weeks that followed—created significant disruption throughout the economy, threatening economic output. The mo
indian 500 and 1000 rupee currency demonetization

Few hits and many misses from demonetisation after two years

Hindustan Times - 24 Sep 2018
Modi invalidated 86% of India's currency in November 2016 in the hope that people who had stashed away illegal cash wouldn't be able to exchange it for new notes at banks. The return of 99.7% of the banned 500 rupee and 1,000 rupee notes — the highest ...
indian 500 and 1000 rupee currency demonetization

Two years on: the hits and misses from India's cash ban

The National - 26 Sep 2018
The return of 99.7 per cent of the banned 500 rupee (Dh25.27) and 1,000 rupee notes - the highest value currencies before demonetisation - shows that did npt happen. Here's a look at some of the few hits and many misses that followed the cash ban: ...
indian 500 and 1000 rupee currency demonetization

Demonetisation comes to haunt govt as RBI says 99.3% notes back

Livemint - 29 Aug 2018
In comparison, the value of ₹ 500 and ₹1,000 notes constituted nearly 86% of the currency in circulation at the time of demonetization. “The primary objective of demonetization was to account for the cash and not to deprive people of value,” said R ...
indian 500 and 1000 rupee currency demonetization

When India Killed Off Cash Overnight

Harvard Business Review - 27 Jun 2018
Bhaskar Chakravorti, the dean of global business at The Fletcher School at Tufts University, analyzes the economic impact of India's unprecedented demonetization move in 2016. With no advance warning, India pulled the two largest ...
indian 500 and 1000 rupee currency demonetization

Modi's Cash Crackdown Failed, Indian Bank Data Shows

New York Times - 30 Aug 2018
NEW DELHI — Almost two years ago, Prime Minister Narendra Modi of India threw the country into turmoil when he decided, by surprise and practically overnight, to effectively invalidate the old paper currency. Mr. Modi's plan, kept secret even from his ...
indian 500 and 1000 rupee currency demonetization

Despite Demonetization, Cash Still Thrives In India

PYMNTS.com - 08 Jun 2018
In November 2016, the Indian government issued a ban on the nation's higher denomination 500- and 1000-rupee notes, essentially deeming 86 percent of its currency invalid. But to date, India's demonetization policy has not achieved its goals. Hugo ...
indian 500 and 1000 rupee currency demonetization

India Demonetization: 99.3% of Money Returned

Investopedia - 29 Aug 2018
According to the Reserve Bank of India's annual report for 2017-18 released on Wednesday, almost all of the Rs. 500 and Rs. 1000 notes demonetized, which made up 86% of currency at that point, were exchanged for new currency or deposited into banks.
indian 500 and 1000 rupee currency demonetization

99.30% of demonetised money back in the system, says RBI report

Economic Times - 29 Aug 2018
The demonetisation was hailed as a step that would curb black money, corruption and check counterfeit currency but RBI said, "Counterfeit notes detected in SBNs decreased by 59.7 and 59.6 per cent in the denominations of Rs 500 and Rs 1,000, ...
indian 500 and 1000 rupee currency demonetization

Viewpoint: Modi's currency gamble damaged Indian economy

BBC News - 08 Nov 2017
He cancelled all 500 ($8; £6) and 1,000 rupee notes and replaced them with a newly designed 500 rupee and a newly introduced 2,000 rupee note, This move was erroneously described as demonetisation and the name has stuck. Technically it is not ...
indian 500 and 1000 rupee currency demonetization

India soon to have new 100-rupee currency notes

Xinhua - 19 Jul 2018
8, 2016, Prime Minister Narendra Modi announced the demonetization of all currency notes in the denominations of 500 and 1,000, and introduced new currency notes in the denominations of 2,000 and 500 Indian rupees, in a bid to check circulation of ...

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