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What is the main reason to ban currency 500 and 1000


  1. #1
    komaljha's Avatar
    komaljha is offline Just in!

    Question What is the main reason to ban currency 500 and 1000

    I don't know what is the main to ban currency of 500 and 1000. if this step stop balck money serculation then what is the logic to launc currency of 2000?

  2. #2
    Savera's Avatar
    Savera is offline eTI Aluminium
    As per informed people and newspaper, there are many reasons behind this action, some are political and some are really to help nation to get rid of black money as well as fake currency. Sudden discontinuation of Rs. 500 and Rs. 1000 currency notes means that almost all black money hoarder will face tough time to get them converted to new currency. People have to now show their black money or else it will turn into mere people after this 30th December.

    However, introduction of Rs. 2000 note has actually bigger story behind it. There are 100% chances that people will again start stashing black money as soon as new currency notes gets into regular circulation and Rs. 2000 note will be preferred denomination. In future Govt. may again ban Rs. 2000 note to further curb black money and may even widthraw Rs. 1000 note forever. So banning Rs. 2000 note in future will again cause even bigger trouble for Black money holders.

    There could be more reasons but for now, this is what I think.


  3. #3
    Surabhi-Doh is offline Just in!
    Looks like a logical step.
    Although people are facing some inconvenience,
    but it's good to see that people are coperating.

    Way to go India

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