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India bans the use of current 500 and 1000 rupee notes

SBS Gujarati

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Rs.500 and Rs.1000 notes, in Bangalore, India
Rs.500 and Rs.1000 notes, in Bangalore, India Source: AAP

India's Prime Minister announces 500 and 1000 rupees will no longer be legal tender from midnight local time. The surprise move is being described as the boldest attempt yet to tackle tax evasion of any Indian government in history. Hiren Mehta reports.

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By Hiren Mehta, Nital Desai

Source: SBS

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India's Prime Minister announces 500 and 1000 rupees will no longer be legal tender from midnight local time. The surprise move is being described as the boldest attempt yet to tackle tax evasion of any Indian government in history. Hiren Mehta reports.

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