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Many in India were unprepared when prime minister Narendra Modi announced a surprise ban on higher denomination notes. The Rs500 and Rs1,000 rupee notes ceased to be legal tender overnight on 08 November in a government crackdown on corruption and tax evasion. The two notes (around $7.50 and $15) accounted for 86 percent of cash [...]
The post CASH BAN CAUSES CHAOS IN INDIA appeared first on Payments Cards & Mobile.
