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Tag: Modi

Is Demonetization of High Value Currency Notes Worth All Current trouble Caused

Is Demonetization of High Value Currency Notes Worth All Current trouble Caused

Opinion
To understand this lets take an example - you are walking on a road. A thorn pierces your heel and the thorn contains a sort of slow poison, though you are not aware of this and ignores it thinking of it as a small issue. Now you feel pain therefore takes a pain killer. However, even after taking the pain killer, the pain returns after a couple of days. You take a double dose of the pain-killer, but again the pain returns after a week. Now, the pain killers are of no use whatsoever. The poison has become stronger with time. Meanwhile you also noticed swelling in your heels so you decide to go to a doctor. The doctor takes a scan and a test and says that the thorn had a slow poison which has now slowly started infecting your blood. However, there is still hope. The doctor says that the poi...
PM Modi just banned Rs500 and Rs1000 notes to fight corruption and terrorism

PM Modi just banned Rs500 and Rs1000 notes to fight corruption and terrorism

Information
India has decided to end the use of Rs500 and Rs1,000 currency notes from Nov. 09. During a televised address late today (Nov. 08), prime minister Narendra Modi said that the drastic measure was taken to curb the flow of black money and prevent the counterfeiting of notes in Asia’s third-largest economy. The government will issue new Rs500 and Rs2,000 denomination notes. Account holders can deposit Rs500 and Rs1000 notes in banks and post offices over the next 50 days with proof of identification such as a PAN card or an Aadhaar card. ATMs in India won’t operate on Nov. 09 and Nov. 10 to facilitate the replacement process. Banks will also remain closed to the public on Nov. 09. This is, so far, the biggest move made by the Modi government to stop the circulation of illegal curr...