“To break the grip of corruption and black money, we have decided that the Rs 500 and Rs 1,000 currency notes currently in use will no longer be legal tender from midnight tonight, that is November 8, 2016.” Prime Minister Narendra Modi — November 8, 2016 It was a decision with few parallels in India’s economic history. On November 8, 2016, in an address to the nation, Prime Minister Narendra Modi announced the withdrawal of legal tender status to Rs 500 and Rs 1,000 notes. In a country that transacts primarily in cash, this decision, which ...
TO READ THE FULL STORY, SUBSCRIBE NOW NOW AT JUST Rs
Key stories on business-standard.com are available to premium subscribers only.
