Prime Minister of India, Narendra Modi took the country by shock when he banned old notes of 500 and 1000 Rs on 8th November 2016. Though PM Modi’s masterstroke has, in conclusion, paid off as more than 90 percent of the black money has been recovered as per the Reserve bank of India.
The most recent report of Reserve bank of India revealed that demonetisation has facilitated pick up 90 percent of the black money and this dramatic news has led to the legalization of the old tenders effectual from 1st April 2017, starting Monday, populace can claim their old note of Rs 500 and Rs 1000 with a copy of Aadhar card and the currency deposit slip. This move has been phrased as Remonetisation by Prime Minister Modi. This latest move by the PM will come as a relief for many who have been struggling to discover liquid cash.
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The beginning of the 2000Rs notes was more of a hazard than facilitating as finding change for the money was as complicated as finding a vacant cab or rickshaw at peak timings. As per the reports of Reserve Bank of India, more than ninety percent of the black money secreted in the Indian economy has been accounted for. This move is said to be massively thriving and the central bank declares that some other secretive plans will recuperate the remaining money that Prime Minister Narendra Modi has. The path ahead to remove black money from the Indian economy is still unidentified. On the other hand, the RBI governor Urjit Patel alleged that PM Modi has a plan as foolproof as demonetisation to restrain the black money from our system. Mohan Bhagat will be India’s 14th president; RSS Chief has been confirmed as subsequent President of India.
The Indian economy is predictable to cultivate in multiple folds as the old currency hit the market once again. The introduction of fresh currency notes clubbed with the arrival of the old Rs 500 and Rs 1000 notes will boost the cash circulating in India, thereby giving the economy a boost. The high denomination notes of Rs 2000 will stay in circulation as of now. Considering there is no deadline to gather the old notes, it is anticipated that there will not be any long lines at banks in this segment of remonetization.
This news entirely works of fiction that was intended to trick you, by bearing in mind i.e. 1st of April which is said to be April fool’s day. Although it is not a legal feast, it is celebrated all around the world as a day filled with practical jokes and general stupidity. You should be a little more careful or cynical on 1st of April since family members, co-workers, neighbors and even teachers may ploy your funny bone with a practical joke or trick of some kind. even though we can’t actually pinpoint how or when April Fool’s day got its start, populace the world over still celebrate it with delight year in and year out.