Friday, November 18, 2016

Demonetization to clean Black and Fake Money

At present, we are seeing a huge rush of people in front of banks to change or deposit old currency notes because the Indian government has announced that all old currency of Rs 500 and Rs 1000 value is not a legal tender any more. This situation has caused some panic in the general public and we are seeing hurry in them for changing the currency.

This situation has slowed down most of businesses in India because of the unavailability of hard cash. Most of the market and cinema halls look waiting for the customers; however, very few of them turn to them. Government of India is assuring people that the situation will be fine soon and they are additional efforts to ensure enough cash with general public.

Many people have filed cases in various courts across India and the Supreme Court said that the Government of India was ill prepared to handle this situation and they must have made adequate arrangements before announcing Demonetization,

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