Demonetisation is a rule which our country's (India) PM Narendra Modi declared on November 8 .In this rule all 500rs and 1000rs notes were banned in India and people only had a time till 31 December to change their their notes with other notes .In this rule the per limit was rs 10000 to exchange and one can only take 2000rs from bank and rs24000 from ATM and the the people who have more cash than rs250000 are in trouble as it means they haven't paid taxes and they have black money.lots of rich people burn their money or hire people to take small small amount of money and deposit in bank.This step was taken to reduce corruption what do you guys think about it
Is there too much money circulating in the economy? Dunno if that shit is what I think it is but if my intuition is correct, your government might have recognized that there could be redundant money that's going around the economy and has implemented fiscal policies, which are used to repress increasing amounts of money that may threaten the currency.
If it was really just for corruption, I wouldn't say that's wise 'cause it's blocking a lot of activity as a result and oppressing entrepreneurs that might contribute to the econnomy. I'd say there are more repercussions from it than more security.
Couldn't they just hire experts to peruse accounts with excessive amounts of money instead of including the whole country in the scheme of things?
