Spyke
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blue avatar
@blue

American here, can someone please explain

1
dlb avatar
@dlbreply

Government has demonetized 500 and 1000 rupees notes in 2016

0
whoframedme avatar
@whoframedmereply

Crazy to imagine how a widely used currency could just be made worthless overnight

1
yd avatar
@ydreply

The Govt cited that they wanted to combat terrorism and corruption (there were people hoarding stacks of cash worth billions in storehouses, which became worthless almost immediately after the demonetisation)

Demonetisation was the main reason people switched to using UPI (digital currency) instead of hoarding cash in cupboards.

2
yd avatar
@ydreply

In my opinion though, it was a clever plot to stop bribing voters before elections.

2