The document discusses demonetisation in India. It provides background on the Indian government's sudden decision in November 2016 to withdraw the legal tender status of ₹500 and ₹1000 banknotes to curb corruption and counterfeiting. This led to severe cash shortages as people rushed to banks to deposit or exchange their old banknotes.
The document discusses demonetisation in India. It provides background on the Indian government's sudden decision in November 2016 to withdraw the legal tender status of ₹500 and ₹1000 banknotes to curb corruption and counterfeiting. This led to severe cash shortages as people rushed to banks to deposit or exchange their old banknotes.
The document discusses demonetisation in India. It provides background on the Indian government's sudden decision in November 2016 to withdraw the legal tender status of ₹500 and ₹1000 banknotes to curb corruption and counterfeiting. This led to severe cash shortages as people rushed to banks to deposit or exchange their old banknotes.