Demonetisation in India News

The biggest decision related to the Indian economy was taken 6 years ago. Prime Minister Narendra Modi gave an address to the nation on 8 November 2022 at 9 pm, under which the old notes of 500-1000 rupees were announced to be discontinued.

Tomorrow will complete 6 years since the decision of demonetisation came into force on 8th November 2016. When demonetisation was implemented, this decision was repeatedly questioned, it was made a narrative that it would ruin the country's economy, we would go back many decades but nothing like this happened. Demonetisation has given a new direction to the country's economy and to understand this one must watch this DNA report.

The RBI has said these are valid and can be used.

The Nepal Rastra Bank (NRB) has reduced the exchange limit of Indian to Rs 2000 from Rs 5000 after India introduced new bank notes of Rs 500 and Rs 2000.

The rupee on Friday recovered from its 39-month closing low by rising 9 paise to 68.64 against the dollar in early trade at the Interbank Foreign Exchange market on fresh selling of the US currency by banks and exporters.

Rajya Sabha on Thursday resumed debate over demonetisation in presence of Prime Minister Narendra Modi.

Rupee's unabated free-fall continued for the fifth straight day Thursday as it weakened by another 30 paise to hit over 3-year low of 68.86 against the dollar in afternoon trade amid foreign fund outflows and the greenback's surge in overseas markets.

The government announced more steps to help farmers to meet their cash needs during the ongoing rabi season and directed banks to waive debit card transaction charges to encourage digital payment.

Know where you can use old Rs 500 and Rs 1,000 currency notes till Nov 24.

The amounts can be withdrawn only if the date of marriage is on or before December 30, 2016.

Some 10 percent of the Rs 14,50,000 crore worth of now-demonetised Rs 500 and Rs 1,000 currency notes that were in circulation have been exchanged or withdrawn with banks till November 18, the Reserve Bank of India (RBI) said on Monday.

India's demonetisation drive is likely to cause short-term pain for the economy, but banks are expected to benefit from the move in the long run.

On November 8 this year, more than a billion Indians were surprised to know about Prime Minister Narendra Modi’s demonetization masterstroke. The decision is now being praised by the top-notch personalities from all walks of life.

 The Centre on Thursday moved the Supreme Court seeking a stay of proceedings in various high courts and other courts against its demonetisation decision.