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Global analysts cut their forecasts of India's real GDP growth rate for the financial year 2016–17 by 0.5 to 3% due to demonetisation. [147] [148] India's GDP in 2016 is estimated to be US$2.25 trillion, hence, each 1 per cent reduction in growth rate represents a shortfall of US$22.5 billion (₹1.54 trillion) for the Indian economy. [149]
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 introduction of this denomination of the Indian rupee was part of the government's demonetization exercise aimed at curbing corruption, black money and counterfeit currency. On the same day, the Indian government announced the demonetization of the existing 500 rupee and 1000 rupee notes. The intention behind demonetization was to ...
The Indian 1000-rupee banknote (₹ 1000) is an obsolete denomination of the Indian rupee. It was first introduced by the Reserve Bank of India in 1938 under British rule and subsequently demonetized in 1946. Post-independence, the denomination was re-introduced in 1954.
Two-time NBA All-Star Gus Williams, who led the Seattle SuperSonics to the franchise’s only NBA championship, has died. He was 71. Williams’ death comes nearly five years after he suffered a ...
Sabrina Brier – who you know as that in-your-face, never-stops-talking "friend" from TikTok – has a new audiobook out now all about a friend group and how different personalities clash.It's ...
From January 2008 to September 2011, if you bought shares in companies when S. Decker Anstrom joined the board, and sold them when he left, you would have a 24.1 percent return on your investment, compared to a -18.1 percent return from the S&P 500.
Benson Boone is holding onto his Grammys memories!. The singer, 22, recently shared a TikTok video of himself still wearing his sparkly baby blue jumpsuit that he wore to perform at the 2025 ...