The government of India recently took a bold step to demonetize Rs 500 and Rs 1000 currency, which means that the legal tender of currency units is declared invalid from the specified date. Demonetization of the currency means discontinuity of the said currency from circulation and replacing it with a new currency.
Most of the people hailed Modi’s strong decision, while the poor were shocked by the move. The overnight decision changed the life of many as black money holders were worried about the pile of cash they were sitting on. Many poor daily wage workers were left with no job and income as owners were unable to pay their daily wage.
|Revised banking hours||Exchange amount||Withdrawal in bank||Deposit in bank||Withdrawal in ATM||Deposit in ATM|
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