DEMONITISATION

MODI’S REVOLUTION
 THE DEMONISATION OF 500 AND 1000 BANK
 NOTES WASA POLICY ENACTED BY THE
GOVERNMENT OF INDIA ON 8
NOVEMBER 2016. ALL 500 AND 1000
BANKNOTES OF THE MAHATMA
GANDHI SERIES CEASED TO BE LEGAL
TENDER IN INDIA FROM 9 NOVEMBER
2016
EXCHANGE OF OLD NOTES
 THE RBI STIPULATED A WINDOW OF 50
DAYS UNTIL 30 DEC 2016 TO DEPOSIT
THE DEMONITISED BANK NOTES AS
CREDIT IN BANK ACCOUNTS.
 INTIALLY THE LIMIT WAS FIXED AT
2000 PER PERSON FROM 8TH TO 13TH
NOVEMBER
 THIS LIMIT WAS INCREASED TO 4500
FROM 14 TO 17 NOVEMBER
REACTIONS
 SUPPORT
 CRITICISM
 OPPOSITION
 STRIKES
IMPACTS
 HAWALA
 RAILWAYS
 CASH SHORTAGE
 DEATHS
 BANKING
EVASION ATTEMPTS
 GOLD PURCHASE
 DONATIONS IN TEMPLES
 RAILWAY BOOKINGS
 MULTIPLE BANK TRANSACTIONS