Indian currency revamped
Many times most of us have dealt with the situation of fake currency notes and especially being an ordinary person it is quite difficult to differentiate between a fake and original note. The fake notes are used for anti-national and illegal activities. High denomination notes have been misused by terrorists and for hoarding black money. India remains a cash-based economy hence the circulation of Fake Indian Currency Notes continues to be a menace. In order to contain the rising incidence of fake notes and black money, the scheme to withdraw has been introduced by PM Modi. On 8th November 2016, PM Narendra Modi addressed the nation and announced that INR 500 and INR 1000 currency notes will become illegal from midnight- 9th November 2016. The finance ministry said that new banknotes of Rs. 500 and Rs. 2,000 would be introduced from 10th November 2016.