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

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 ...
indian 500 and 1000 rupee currency demonetization

Giving leadership to a digital economy

Daily Mirror - 16 Jul 2018
Over a year ago, India in an effort to move to a digital economy and combat corruption, tax evasion and counterfeiting, all Rs.500 and Rs.1,000 banknotes were withdrawn from circulation. ...
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

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

Nepal PM to press India for banned currency swap

Reuters - 04 Apr 2018
Nepal and India have yet to agree on how to exchange old Indian bank notes estimated to be worth $146 million held by individuals and informal sectors after India's shock announcement in 2016 to ban 500 and 1,000 rupee bills. ...
indian 500 and 1000 rupee currency demonetization

India's use of cash is back to the levels before demonetisation

Quartz - 23 May 2018
There is nothing Narendra Modi can do about it—Indians just love cash. About a year and half ago, in an event dubbed “demonetisation,” the Indian government made all Rs 500 and Rs 1,000 banknotes illegal—about 86% of all currency in circulation.
indian 500 and 1000 rupee currency demonetization

Viewpoint: Why Modi's currency gamble was 'epic failure'

BBC News - 30 Aug 2017
Has demonetisation been a success or a failure? As per the RBI data, it's safe to say that demonetisation has been a failure of epic proportions. On 8 November last year, the Modi government decided to demonetise 500 ($7; £6) rupee and 1,000 rupee ...
indian 500 and 1000 rupee currency demonetization

15 months after note ban, RBI still processing returned notes

Economic Times - 11 Feb 2018
NEW DELHI: The RBI has said that Rs 500 and Rs 1,000 notes, returned to banks when the government demonetised high value currency 15 months ago, are still being "processed for their arithmetical accuracy and genuineness". This is being done in an ...

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