Narendra Modi just banned Rs500 and Rs1000 notes to fight corruption and terrorism
- RCS Ottawa
- Nov 9, 2016
- 1 min read
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. Full Story