Diabytes
Demonetisation, a victory 125 crore Indians: PM Modi on first anniversary of note ban
PM Modi announced the scrapping of Rs 500 and Rs 1,000 notes on November 8 last year, in a surprise move.
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NEW DELHI: On November 8, 2016, Prime Minister Narendra Modi appeared on our TV screens. In a surprise move, he scrapped currencies or notes with denominations of Rs 1,000 and Rs 500 from midnight. A turning point in the Indian economy, demonetisation or notebandi (in Hindi) was called an assault on black money, fake currency and corruption. In the weeks that followed, the economy faced severe cash shortage with new notes of Rs 2000 and Rs 500 being slowly circulated. Exactly a year later, the country is observing the first anniversary of demonetisation. The Opposition has termed today as "Black Day" while BJP-led centre is calling 'Anti-Black Money Day'.
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