A Fight against Black Money...
Demonetisation is a radical financial step in which a currency unit’s status as a legal tender is declared invalid. This move is usually executed when old currencies have to be replaced by new ones or whenever there is a change of national currency. It helps to tackle black money in the economy and to lower the cash circulation in the country which directly related to corruption. It also eliminates fake currency and dodgy funds which have been used by terror groups to fund terrorism in India.
In the evening of November 8, 2016, the Prime Minister Narendra Modi announced the demonetisation of existing notes of ₹500 and ₹1000 and these notes will not be legal tender from midnight. These notes will be just worthless pieces of paper. Prime Minister also urged people to join this mahayajna against the ills of corruption.
Current Scenario of Demonetisation
With effect from the midnight of November 8-9, 2016, the denomination of ₹500 and ₹1000 notes are now only worthless pieces of paper, and the new currency notes of ₹500 and ₹2000 has been taken the place.
The denomination of ₹500 and ₹1000 currency notes were valid for key utility payments till November 24, 2016 and exchange will be carried of these currencies in banks and post office till December 30, 2016. The government of India extended the date limit for ₹500 notes for circulation till December 15, 2016 but ₹1000 expired its value now.
Provisions after demonetisation are as follows
One will get up to ₹2000 in cash exchange over the counter irrespective of the size of tender and anything over and above that will be receivable by way of credit to bank account.
Bu hikaye Competition in Focus dergisinin January 2017 sayısından alınmıştır.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber ? Giriş Yap
Bu hikaye Competition in Focus dergisinin January 2017 sayısından alınmıştır.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber? Giriş Yap
Demonetisation
A Fight against Black Money...
Kigali Agreement
A historic global climate deal has been signed in Kigali, Rwanda at the 28th Meeting of the Parties (MoP 28) to the Montreal Protocol on Substances that Deplete the Ozone Layer. This agreement which amend the Montreal Protocol, aims to phase out Hydrofluorocarbons (HFCs) by the late 2040s. Under Kigali Amendment, 197 countries including India have agreed to reduce the use of HFCs by roughly 85% of their baselines by 2045.
World Economic Forum Davos 2018
Creating a Shared Future in a Fractured World.
India-Israel Relations Revolution Of Bilateral Partnership
Two Nations One Goal Friendshipvia.
Ganga Gram Project
Har Sapna Sach Karega India, Banega Swachh India.
New Dimension In India-Japan Relationship
Indian Prime Minister Narendra Modi’s recent two-day (November 11-12, 2016) visit to Japan is a sign that the bilateral relationship between India and Japan is heading for newer heights. More importantly, there seems to be a palpable method to this resurgent Asian connection that does not just attempt to restore the balance of power in Asia.
World Inequality Report 2018
Comprehensive Data of Income Inequality in the World.
World Economic League Table 2018
World Economic League Table 2018
Big Bubble Theory
New Theory of the Universe Formation.
Hydroponics
Future of Soil-less Farming.