Why Government Banned/Demonetized 500 And 1000 Notes ?Question And Answer.
Indian Prima minister as great decision of rs 500 & 1000 Notes bannned in Short Time.This Related All Details Given Below.The answer is quite simple i.e to stop money laundering and black money. When higher currency such as rs.500 and rs.1000 will be demonetized then such notes become useless.
This will really hurt all money launders in India as they can’t use that money and all will be wasted. That is why Indian government has only picked higher value notes.
I personally feels that this is a great move by government and we should respect it. “Though the instant decision may come as a setback to those who have marriages going on, to the farmers and marginal traders who were undergoing financial transaction and were in immediate need of money” said Virbhadra Singh.
Most reports that followed post Prime Minister Narendra Modi's dramatic announcement on Tuesday evening clamping down on the Rs 500 and Rs 1,000 currency notes had one thing in common - the role of Anil Bokil and his NGO Arthakranti Pratisthan.
Also Read.
Prime Minister Narendra Modi has called an emergency address speech, where he revealed to the country that 500 and 1000 rupee notes are to be discontinued from midnight today. I know how defective decision it is but it is true and will be staunch decision of striking off usage of 1000 and 500 Rupee notes currency in India. This decision has been made by the present government under the PM who says, IMF and World Bank states India is an economic star now.
Recently, Government has demonetized 500 and 1000 denomination notes in India with effective 9 November 2016. This decision was taken due to the increment in money laundering in India. So this simply means that your rs. 500 or rs. 1000 are no longer valid to make market purchase or exchange for goods and services.
Also Read
0 comments