Showing posts from November, 2016

What happens next with the demonetization of ₹1000 and ₹500 currency notes

Indian Government have taken a very bold step to demonetize the prevailing ₹1000 and ₹500 currency notes. This have created chaos and inconvenience for the public, sure this have made good impact on the economy with crores of rupees flooding the bank accounts. The sudden vanishing of Trillions of rupee from the economy added with the lack of availability of lower denomination notes have caused a sudden lose of purchasing power for the Indian people temporarily. The Government have assured to address the lack of currency in the next 50 days. But that means there will be more surprising steps in the coming days. Consider the new ₹2000 currency note. It is just a piece of paper with such a low quality that it cannot endure the day-to-day use. The common man does not need such a high denomination note for his day to day use. One day can be managed by below ₹1000. So what are the plans. The current lack of availability of ₹2000 currency notes means the RBI is considering this as a