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Modi’s Real Surgical Strike On Black Money
Most market participants and economists lauded this as a bold move.
![(Source: BloombergQuint)](https://media.assettype.com/bloombergquint%2F2016-11%2Ffe531e05-8013-4ea1-8400-f8987edac28b%2Fatm.jpg?rect=0%2C0%2C1280%2C720&auto=format%2Ccompress&w=200)
(Source: BloombergQuint)
In a surprise move, the government has decided to scrap Rs 500 and Rs 1000 currency notes, starting midnight, Prime Minister Narendra Modi said in a media briefing. The notes in circulation will have to be deposited to banks by the end of December.
While most market participants and economists lauded this as a bold move that will help tackle the problem of black money, others said there may be operational challenges.
![Modi’s Real Surgical Strike On Black Money](https://media.assettype.com/bloombergquint%2F2016-11%2Fa251c63e-f913-43ea-8386-31f16926b491%2FCHANDA%20KOCHHAR.jpg?auto=format%2Ccompress)
![Modi’s Real Surgical Strike On Black Money](https://media.assettype.com/bloombergquint%2F2016-11%2F48648ca0-0e2c-492f-b15d-12c5b7f5f89f%2FKEKI%20QUOTE.jpg?auto=format%2Ccompress)
Urgent message to anyone who robbed a bank tonight: You just got robbed...
— anand mahindra (@anandmahindra) November 8, 2016
![Modi’s Real Surgical Strike On Black Money](https://media.assettype.com/bloombergquint%2F2016-11%2Fa50447b5-3aba-4349-8f5c-857f652baaef%2Fmb%20shah.jpg?auto=format%2Ccompress)
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