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The surgical strike of Rupees was exactly taken into action to be noted as the demonetisation of Rs 1000 and Rs 500 notes which became very effective and invalid since the midnight
day of November 8th 2016. In a surprising and a shocking manner, Prime Minister of India Narendra Modi proclaimed the withdrawal of Rs 500 and 1,000 notes for the major resulting in order to stop the black money, fake currency notes and corruption taking place in India. Therefore, by addressing this surprising note to the nation, Modi suggested to the people who were incurring the note of Rs 500 and Rs 1000 to be deposited in the very same bank and post office accounts within a certain period of time from November 10 to December 30, 2016. Due to this action, many financial experts and India Inc honchos pronounced that this surprising note was never seemed to be an unexpected one; only the timings and date of announcement became a shocking note to everyone through a surprise method.
The denominations of the currency notes of Rs 500 and Rs 1000 will not be legal to all Indians beginning from November 9. And thus, it might have caused a lot of trouble to all the people of the nation but they too agreed with the Modi’s announcement and adjusted a lot to it inorder to exchange their currencies. Such illegal notes to be accepted by Government hospitals for 72 hours, also including airline and government bus ticket counters, as well as milk booths, petrol pumps, consumer cooperative societies, societies, crematoriums and burial grounds and it was also accessible to all foreign currency exchange facilities at airports to had to accept these notes. This was the biggest turning point incurred by the government for all those who were pertaining with black money. It was absolutely like a surgical strike on black money, proclaimed the Revenue Secretary Hasmuckh Adhia.
1. As such these denomination notes of Rs 500 and Rs 1000 were being used for black-money transactions and thus to stop them from circulating Modi’s reaction seem to be an excellent one.
2. The main reason for the surgical strike on Black money was due to the financing terror and in order to stop the complete inflow of fake currency into the country.
3. It was noted that the economy grew in 30 per cent between in between the years 2011 and 2016 and the circulation of the currencies was risen up to 40 percent.
4. The circulation of Rs 500 grew up to 76 per cent and 1,000 notes were being used up to 109 per cent.
The super most explosion of the Prime Minister Narendra Modi was truly an awesome one and also almost brought India under control for really a good purpose. So we give a big salute to our Prime Minister Narendra Modi and a heartfelt good wishes to him.