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People gathered at an ATM of Axis Bank on 16 November 2016 in Mehsana, Gujarat to withdraw cash following deposit of demonetised banknotes in bank. The Reserve Bank of India stipulated that the demonetised banknotes could be deposited with banks over a period of fifty days until 30 December 2016.
The first demonetisation of India was carried out in the year 1946 when, under the then Governor General of India, Field Marshal Archibald Wavell, 1st Earl Wavell, the Reserve Bank of India demonetised notes of ₹500, ₹1000, and ₹10,000 in order to check black market operations and tax evasions. This was done via 2 ordinances.
The Mahatma Gandhi New Series of banknotes are issued by the Reserve Bank of India (RBI) as the legal tender of the Indian rupee (₹), intended to replace the Mahatma Gandhi Series of banknotes. Announced on 8 November 2016, it followed the demonetisation of ₹ 500 and ₹ 1000 banknotes of the original Mahatma Gandhi Series.
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Early in November, India abolished the 500 and 1000 rupee banknotes in an effort to fight corruption and so-called "black money". Since then, interest in Bitcoin appears to be increasing in the ...
The Gandhi Series of banknotes are issued by the Reserve Bank of India (RBI) as the legal tender of Indian rupee. The series is so called because the obverse of the banknotes prominently display the portrait of Mahatma Gandhi. Since its introduction in 1996, this series replaced all Lion Capital Series banknotes issued before 1996. The Reserve ...
The previous banknotes of the Mahatma Gandhi Series, in circulation between October 1997 and November 2016, were demonetised on 8 November 2016. On 8 November 2016, Indian prime minister Narendra Modi announced the demonetization of the ₹500 banknotes of the Mahatma Gandhi Series as a measure to fight corruption in India and address the issue ...
Obverse of the ₹ 2000 banknote between October 2016 – November 2023. It was released by the Reserve Bank of India (RBI) on 8 November 2016 after the demonetisation of ₹500 and ₹1000 banknotes and has been in circulation since 10 November 2016. [2] It is a part of the Mahatma Gandhi New Series of banknotes with a completely new design.