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.
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Urgent message to anyone who robbed a bank tonight: You just got robbed...
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