Markets Business Research Reports Exclusives Economy & Finance Law & Policy

Why The Rush? Government Moves To Scrap Large Currency Notes Overnight

Has the government erred in giving only FOUR HOURS to people?

Raghav Bahl
New Delhi : RBI Governor, Urjit Patel with Finance Secretary Shashikant Das showing specimen notes of new Rs.2000 during their press conference in New Delhi on Tuesday. (Photographer: Shahbaz Khan/PTI)

In a surprise announcement, Prime Minister Narendra Modi announced on Tuesday evening that from starting November 8 midnight, Rs 500 and Rs 1,000 currency notes will no longer be legal tender.

Effectively, the government barely gave people four hours before these denominations turned illegal.

X
X
X
X

Raghav Bahl is the co-founder and chairman of Quintillion Media, including BloombergQuint. He is the author of two books, viz ‘Superpower?: The Amazing Race Between China’s Hare and India’s Tortoise’, and ‘Super Economies: America, India, China & The Future Of The World’.

Also Read:

Currency Notes Of Rs 500 And Rs 1,000 Will Not Be Legal Tender Starting Midnight

Modi’s Real Surgical Strike On Black Money

Get live Stock market updates, Business news, Today’s latest news, Trending stories, and Videos on NDTV Profit.
GET REGULAR UPDATES

RECOMMENDED FOR YOU

CFO Leaders: The Making Of Five Star CFOs 
timelogo Jan 14, 2021
Stocks Rise, Treasuries Fall on Stimulus Bets: Markets Wrap
timelogo Aug 19, 2019
Stocks End Record-Setting Week With Further Gains: Markets Wrap
timelogo Jul 15, 2019
The Mutual Fund Show: The Dos And Don’ts Of Online Investing
timelogo Apr 27, 2019

POPULAR

1
Musk Makes Unannounced China Visit In Push For Self-Driving Cars
2
Unemployment Among Indian Youth Is Transient, Says Ashima Goyal
3
Actor Sahil Khan Detained In Mahadev Betting App Case
4
Corporate Earnings, Fed Rate Decision To Drive Markets In Shortened Week, Say Analysts
5
Three AMCs File Draft Papers For Special Opportunities Funds With SEBI