On 8 November 2016, Narendra Damodar Das Modi, Prime Minister, India came on air on National Television at around 8:00PM and announced that the ₹500 and ₹1000 currency notes will cease to be a legal tender from midnight, which meant just 4 hours from the announcement. Also, he requested the co-operation of Indian public for bringing in a change. He said that this move shall help reduce the Black Money in cash. He also explained how this will do away with the fake currency notes and stop the terror activities funding. And it was convincing.
One assumption this story is built upon is that the Indian common man will co-operate with the GoI for this process. And unfortunately, this is so not true. The common man refuses to co-operate. In a country of 1.2Bn a change can't be brought until India co-operates.
One assumption this story is built upon is that the Indian common man will co-operate with the GoI for this process. And unfortunately, this is so not true. The common man refuses to co-operate. In a country of 1.2Bn a change can't be brought until India co-operates.
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