Quote from: Oblodo on November 08, 2016, 11:50:46 PM

Quote from: Shiroslullaby on November 08, 2016, 11:11:59 PM

Yeah Im pretty sure this is just a redesign to prevent counterfeiting.
(The US did a redesign of all large bills recently for the same reason, Im sure other countries have as well.)

Well actually no. It is an aggressive method for getting at corruption. It came as a huge surprise, and loads of ppl are reacting. Sure it has some extra benefits that can prevent counterfeiting, but this is not what this is about. In India, almost all medium and small businesses use cash, and that is something the millions of government employees take advantage of. Now ppl hav until November 30th to exchange their cash, after that only one bank will exchange the money, and there is paperwork. So good news for BTC if at least some want to move their funds over to BTC from cash. So it is all about corruption and black marked money.

Even if anyone wants to move to BTC but will the seller will accept the 500 or 1000 Rs. note. and it is banned from 8th November midnight from 10th November you can change from bank but with terms and conditions. Till 30th December you have time to change the currency after that they will become ordinary toilet papers.

This step has taken to curb corruption, and bring back the black money. Till 30th December any one can deposit the black money and after detecting 30% tax balance amount will be deposited in Account , like this black money tax is also collected.