Today I am going to share one of the hot news which makes many big shots to cry.(hope).
It is nothing but RBI Announcement as follows
“From April 1, the public will be required to approach banks for exchanging these notes. Banks will provide exchange facility for these notes until further communication,” the RBI said on Wednesday.
But as usual there are many rumors like it is an eye wash.
Today Dr.Rajan head of RBI said
“This is not an attempt to demonetise such currency notes. It is only that the pre-2005 currency notes can be easily forged, while the new currency notes being printed now have more security features,” Dr. Rajan said answering questions after delivering the 8th R.N. Kao Memorial Lecture of the Research and Analysis Wing.
‘There will be no hardship’
“I understand people are coming up with different interpretations. The public will not be subject to any hardship on account of this decision. I have to say that this decision has nothing to do with the elections. That is not the objective,”
I heard that same type of announcement RBI did in 90's but it didn't worked out. Hope this action will reduce black money and counterfeit notes.