Rs500, Rs1000 notes scrapped as legal tender: Narendra Modi3 min read 08 Nov 2016, 08:38 PM IST
The Modi government move to withdraw currency notes of Rs500 and Rs1,000 denominations, hits a fundamental reset in the Indian economy
In a surprise move intended to eliminate black money and the growing menace of counterfeit currency notes, the Union government on Tuesday, effective midnight, scrapped currency notes of Rs500 and Rs1,000 denominations. These account for over 80% of all currency in circulation by value.
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