Why The Rush? Government Moves To Scrap Large Currency Notes Overnight
In a surprise announcement, Prime Minister Narendra Modi announced on Tuesday evening that from starting November 8 midnight, Rs 500 and Rs 1,000 currency notes will no longer be legal tender.
Effectively, the government barely gave people four hours before these denominations turned illegal.
Raghav Bahl is the co-founder and chairman of Quintillion Media, including BloombergQuint. He is the author of two books, viz ‘Superpower?: The Amazing Race Between China’s Hare and India’s Tortoise’, and ‘Super Economies: America, India, China & The Future Of The World’.