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War On Cash Strikes India: PM Scraps Large Bills, Limits ATM Withdrawals To “Fight Corruption”

Tuesday, November 8, 2016 11:50
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zerohedge.com / by Tyler Durden / Nov 8, 2016 10:03 AM

In a fiery address to the Indian nation, PM Narendra Modi just took a major step in the war on cash that is being waged worldwide. Talking tough on fighting corruption and the black market economy, Modi decreed that the INR500 ($7.50), and INR1000 ($15) bills will no longer be legal tender and that ATM withdrawals will be limited to INR2000 ($30) for some.

“Fake money and terrorism are ruining the nation’s fabric,”  Modi exclaimed, adding that “it was very important to keep this news under wrap. Due to this, RBI and post office have a major task ahead and RBI has also decided that all banks will be shut for the public on November 9.”

“Honest man cannot buy a house, cannot get proper education due to black money.”

“Cash economy aides black money, corruption and makes life difficult for the poor.”

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The post War On Cash Strikes India: PM Scraps Large Bills, Limits ATM Withdrawals To “Fight Corruption” appeared first on Silver For The People.

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