Archive | November 9, 2016
Demonetisation of Indian Currency Notes: Implications and Effects
What demonetisation is….
The act of banning a currency of being a legal tender is termed as demonetisation. Whenever a country changes its national currency in order to curb counterfeiting and money-laundering, it issues a notice of demonetisation of its older currency of particular denomination and the particular currency is retired and replaced with the new currency. A recent example of demonetisation is that of 500 and 1000 denomination currency units of India.
Demonetisation of 500 and 1000 denomination currency in India
News for November 9, 2016
Important News from The Hindu:
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Rs. 500, Rs. 1,000 notes no longer legal tender
[Important for: Polity, Economy]
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‘Corruption, black money & terrorism are festering sores’
[Important for: Polity, Economy]
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Centre extends AFSPA to check Naga factions
[Important for: Polity, Defence]
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India makes fresh push to gain NSG entry
[Important for: IP, IR]
Read More…