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What will be the result of banning 500 and 1000 rupees note in India?

7 Answers

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In the first place, the old 500 and 1000 rupee notes will be deposited in the banks. In the second place, the new notes will be issued. In the third place, the old notes will be destroyed. In the fourth place, the new notes will be issued. In the fifth place, the old notes will be destroyed. In the sixth place, the new
+1 vote
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It will be a disaster for the economy.
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The result will be bad. The 500 and 1000 rupee note will be worthless in the market. The market will collapse. There will be chaos. The economy will be destroyed
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It will lead to the removal of fake currency and further criminalisation of black money. This will help in curbing corruption and terror funding
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If the note ban is successful, the country will have to pay Rs.50,000 crore to the RBI, the first time that the government will have to pay money to the central bank. The RBI has estimated that the ban will lead to a fall in the value of the rupee by as much as 40 percent. The central bank has been
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It will reduce the black money and corruption in the economy
+2 votes
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The Reserve Bank of India has decided to ban 500 and 1000 rupee notes in the country
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