RIP Rs 500 And Rs 1,000

    • admin@nie.com
    • Publish Date: Nov 10 2016 1:00PM
    • |
    • Updated Date: Nov 10 2016 3:34PM
RIP Rs 500 And Rs 1,000

As part of his government’s fight against black money, Prime Minister Narendra Modi on Tuesday announced that existing denominations of Rs 500 and Rs 1,000 currency notes were being scrapped. The move was aimed to clamp down on rampant corruption, Modi said.


How India reacted: Indians awoke to confusion on Wednesday after the government withdrew the highest-denomination currency notes overnight to halt money laundering in a country where many in the poor and middle-class still make day-to-day transactions in cash.

Why this move: The move is expected to bring billions of dollars into the economy. The economy and its tax base has long been hobbled by rampant money laundering. Businesses use what is known as “black money,’’ with people using cash to avoid paying taxes. Raids on corrupt politicians and businesses regularly churn out people holding millions of dollars’ worth of rupees, with cash sometimes filling dozens of boxes. 
 
How black money is used: Much of India’s illicit money stores are believed to be used in land purchases, or siphoned off to accounts overseas. The move is expected to send real estate prices crashing, an expectation reflected in a slump in the stock prices of major real estate companies.


The winner
The biggest winner would be the counter-terrorism operations of law enforcement agencies, as India is the only country where counterfeit notes of these denominations were raised, moved and used for “terrorism” and “economic warfare” by Pakistan. The decision would cripple terrorist organisations, hawala dealers and carriers of fake currency notes 


 
 

More From TOP NEWS...

Comments

Gaurav karnawat KALPA SCHOOL

Yes,i agree that it is a good move to eradicate black money.Black money can be thrown out of the country by eradicating high denomination notes because people who have black money in denominations of 100''s are very rare.After the successful circulation of 500 and 2000 notes in the next 4 to 5 years ,there is a chance of people having black money but no one would think of doing so because this move was a huge blow to many people

Brenda Marshal PADUA HIGH SCHOOL-MANKHURD

Changing the Indian currency is a good move. By this move all the black money will be revealed..

Vihan R. Yalamanchili DDMS P.OBUL REDDY PUBLIC SCHOOL

This is a great move to strengthen the national economy and to curb the use of black money.

Janya sarwal PRESENTATION CONVENT(RED FORT)

I am very happy that rs. 500and 1000 notes are banned because only this way corruption can be reduced from the country and black money can be finished and there poor people''s population will be reduced from our society.. I''m very proud of our prime minister Mr.Narendra Modi. He is the deserving prime minister and done the very best job.keep up the good work.

Bhavana Jaison Atomic Energy Central School No 2

Good move by the government. Swatch bharath in terms of clean environment and corruption . The value of rupee also went up.

Mayank saboo BHARTI PUBLIC SCHOOL (SWASTHYA VHR)

Modi ji had taken a great step towards removing the corruption,black money. According to me he should be honored with best PM as he recently done surgical strike which was very important and now terrorist activities will be stop .Salute!!

A.Shajitha Fathima Bethel Mat Hr Sec School

It''s a nice take by PM Modi. Meanwhile the corruption of black money by the politicians are stopped. This makes the black money keepers can''t save 100s & 50s for a more amount.

Nishi Upadhyay BHARTI PUBLIC SCHOOL (SWASTHYA VHR)

it is a good move to change the whole story of corruption in our country.

DASHA.S MARIAM NILAYA SCHOOL BANASWADI

There will always be a plus and minus point so, according to me it was success to a certain extent because, we have to understand that it was done with good intention for the development of our country. it was not 100% successful it is because lot of officials also indulged in converting black money. There was no full co-operation from all.

POST YOUR OWN ARTICLE, PHOTO & VIDEO

SIMPLY FILL DETAILS & POST



SIGN UP & EXPLORE MORE...
*


*
* *
* *
img
REGISTRATION SUCCESSFUL...
THANK YOU FOR REGISTERING
  • About Us

Times Newspaper in Education (Times NIE) is a novel program that helps students ‘Stay Ahead’ and aims at making ‘Learning Fun’. It introduces concepts that help individual growth and development beyond school curriculum.

A brainchild of The Times of India, the world’s leading English newspapers, Times NIE nurtures progress and innovation. Adapted from the international concept, Times Newspaper in Education program (Times NIE) was initiated in India in 1985.

Today we have over 3000 schools and over 9 lac students subscribing to the programme, spanning 16 cities viz. Delhi, Mumbai, Pune, Bangalore, Kolkata, Chennai, Hyderabad, Ahmedabad, Kochi, Lucknow, Coimbatore, Chandigarh, Dehradun, Vijayawada, Visakhapatnam, and Jaipur.

The Times of India Student edition, a customized student newspaper exclusively for the students, packs a powerful punch in terms of content that leads to a smarter and superior learning experience. The information is crafted such that it finds use in classroom discussions, thus making it relevant and current. It truly gives education a new dimension by fostering the simple habit of reading which in turn paves the way for a confident, informed and aware individual. A newspaper that inspires young minds and equips them to face challenges of today’s world, making way for global citizens.

Empowering students with new cutting-edge knowledge through various educative and informative activities is a commitment and tradition of Times NIE. The programme serves as a catalyst of education and interaction, as well as a window into the minds of the quintessential Indian youth. On a significant scale Times NIE comprises diverse interesting activities and events that boost the child’s passion for learning, while revealing hidden talent.

While you are aware that The Times of India is among the leading English Newspapers across the world, it has consummated its position as an everlasting winner. With several international awards and recognitions to its credit, The Times of India and Times NIE have validated an enduring tradition of setting the highest benchmarks in every respect. We have been awarded with the two most prestigious awards, Times NIE - World’s No.1 NIE program and The Times of India, Student Edition - World’s No.1 Newspaper for the youth in 2006 by the celebrated World Association of Newspapers (WAN). In 2008 we were honoured by the International Newspaper Marketing Association (INMA), yet another international recognition for ‘Youth Audience Development’. In 2013 we were again honoured by the celebrated World Association of Newspapers (WAN) as the ‘Times NIE - World’s Best Youth Engagement Program’.

Times NIE has grown remarkably over the last three and a half decades, touching millions of children across more than 16 Indian cities. Our absolute commitment towards the fledgling generation remains undiluted and our greatest strength lies in the school partnership and commitment.

  • Times NIE World Awards
EDIT STUDENT PROFILE...



img

JOIN NOW !!!

Create or join groups, share your views, ideas through posts (Text, Pictures & Videos)

GOT A QUERY?

FEEL FREE TO ASK HERE. GET IT ANSWERED BY EXPERTS

CLICK HERE TO SEE YOUR PREVIOUS QUERIES

win

Why You Think India Is Great....