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View: India is once again making money a plaything
View: India is once again making money a plaything
In November 2016, Prime Minister Narendra Modi shocked the world by outlawing the 500 ($6) and 1,000 rupee bills in which the country held 86% of its cash. This time, the coup de grâce has fallen on the 2,000 rupee banknote. Since it accounts for only 11% of the currency in circulation, and people have until Sept. 30 to change them into other denominations, it’s not as big a problem as the draconian ban back then.
In November 2016, Prime Minister Narendra Modi shocked the world by outlawing the 500 ($6) and 1,000 rupee bills in which the country held 86% of its cash. This time, the coup de grâce has fallen on the 2,000 rupee banknote. Since it accounts for only 11% of the currency in circulation, and people have until Sept. 30 to change them into other denominations, it’s not as big a problem as the draconian ban back then.
In November 2016, Prime Minister Narendra Modi shocked the world by outlawing the 500 ($6) and 1,000 rupee bills in which the country held 86% of its cash. This time, the coup de grâce has fallen on the 2,000 rupee banknote. Since it accounts for only 11% of the currency in circulation, and people have until Sept. 30 to change them into other denominations, it’s not as big a problem as the draconian ban back then. 
