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The demonetisation also came in for sharp criticism from media outside India, [254] [255] with The New York Times saying that the demonetisation was "atrociously planned" and that it did not appear to have combatted black money, [256] [257] while an article in The Guardian stated that "Modi has brought havoc to India". [254]
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.
Post 2016 Indian banknote demonetisation, seven new currency notes have been announced by the Reserve Bank of India-- ₹2,000, ₹500, ₹200, ₹100, ₹50, ₹20, and ₹10. [7] [8] According to the RBI data, there were 3,285.87 million pieces of ₹2000 notes in circulation at end-March 2017.
On the reverse is a language panel which displayed the denomination of the note in 15 of the 22 official languages of India, displayed in alphabetical order. Languages included on the panel were Assamese , Bengali , Gujarati , Kannada , Kashmiri , Konkani , Malayalam , Marathi , Nepali , Odia , Punjabi , Sanskrit , Tamil , Telugu and Urdu .
Today claimed that it had verified a letter confirming the US$8 billion in black money was in UBS bank account, and the government of India too has verified this with UBS. [ 83 ] The UBS bank has denied Indian reports alleging that it maintained a business relationship with or had any assets or accounts for Hasan Ali.
Fake Indian Currency Note (FICN) is a term used by officials and media to refer to counterfeit currency notes circulated in the Indian economy. [1] In 2012, while responding to a question in parliament, the Finance Minister, P. Chidambaram, admitted that there is no confirmed estimate of fake currency in India. [2]
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Demonetization (YouTube), the demonetization of individual videos or entire channels on YouTube Topics referred to by the same term This disambiguation page lists articles associated with the title Demonetization .