India withdraws larger banknotes in fight against graft, ‘black money’
India’s Prime Minister Narendra Modi
New Delhi - Arab Today
Indian Prime Minister Narendra Modi has announced that 500 and 1000 rupee banknotes would be withdrawn from the financial system at midnight, saying it was part of a crackdown on rampant corruption.
The surprise step appears to be designed to bring billions of dollars worth of cash in unaccounted wealth into the mainstream economy.
“Black money and corruption are the biggest obstacles in eradicating poverty,” he said in an address to the nation.
New 500 and 2,000 rupee denomination notes will be issued later, he added.
Source: Arab News
- Sunday ,30 April GMT 01:59 2017 Prime Minister Narendra Modi to launch low-cost regional air connectivity scheme on Thursday
GMT 08:44 2017 Thursday ,06 July
GST: India's tryst with new tax reformsGMT 08:37 2017 Thursday ,06 July
Relief for Indian farmers: tax on fertiliser cut to 5%GMT 01:59 2017 Sunday ,30 April
Prime Minister Narendra Modi to launch low-cost regional air connectivity scheme on ThursdayGMT 05:52 2017 Thursday ,20 April
Farm loan write-offs may hurt India’s economyGMT 20:33 2017 Saturday ,08 April
India extends $4.5bn line of credit to BangladeshRussia tests new telemetry system during manned Soyuz MS-11 spacecraft’s launch
Moscow - TASS
The Astra-06 apparatus developed by specialists of Russian Space Systems (RSS) was used for the first time as additional telemetric equipment aboard the manned Soyuz MS-11 spacecraft launc...Read More
GMT 06:23 2019 Tuesday ,20 August
You find yourself facing new professional
GMT 07:27 2019 Tuesday ,20 August
Think of a new strategy and give you a variety of possibilities
GMT 11:24 2018 Friday ,14 December
Turkey will enter Syria’s Manbij if US doesn’t remove YPG fighters
GMT 11:47 2018 Thursday ,11 January
Heavy snowfall strands 13,000 tourists
GMT 09:23 2019 Monday ,19 August
Live an important and happy atmosphere
GMT 16:10 2018 Friday ,14 December
Bahrain press headlines For 14 Dec 2018GMT 07:06 2012 Sunday ,20 May
UN imposes travel ban on Guinea-Bissau coup leaders
GMT 08:13 2017 Monday ,11 December
Shaikha Mai receives Lebanese Culture Minister
GMT 14:21 2017 Friday ,17 February
Tillerson, Wang in highest-level US-China meet under Trump
GMT 05:28 2018 Tuesday ,04 September
Netanyahu welcomes Trump decision to stop all financial support for UNRWA
GMT 19:17 2016 Monday ,05 September
Israeli Forces Shot 3 Palestinians in Nablus
GMT 10:22 2015 Friday ,08 May
Cook Islands' solar energy project to go online
GMT 00:58 2017 Monday ,06 February
I feel calmness when reading Qur’an: Lindsay
GMT 19:40 2016 Sunday ,12 June
Greek MPs : will recognize Palestine ‘soon’
GMT 09:24 2017 Wednesday ,20 September
Talib says players need more harmony
Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2025 ©
Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2025 ©
Send your comments
Your comment as a visitor