India scraps 500 and 1000 rupee notes overnight
Soma Valliappan Source: Soma Valliappan
India will withdraw high-denomination banknotes overnight in the nation's biggest crackdown against unaccounted wealth and corruption in almost four decades. Five hundred rupee ($9.70) and 1000 rupee notes will cease to be legal tender from Wednesday, Prime Minister Narendra Modi said in an unscheduled address to the nation. Mr.Soma Valliappan, a leading economist and writer, analyses from Tamil Nadu
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