There have been scenes of near chaos at banks in India, after the country’s Prime Minister Narendra Modi announced that all 500 and 1000 rupee denomination notes, equivalent to about 7 dollars and 15 dollars respectively, would be taken out of circulation and rendered illegal. The move is a crackdown on corruption and black money, a big issue in India.
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There have been scenes of near chaos at banks in India, after the country’s Prime Minister Narendra Modi announced that all 500 and 1000 rupee denomination notes, equivalent to about 7 dollars and 15 dollars respectively, would be taken out of circulation and rendered illegal. The move is a crackdown on corruption and black money, a big issue in India.
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