Hello There,
India bans top currency notes such as Rs.500/- and Rs.1,000/- to prevent black money. Now there are only three notes in circulation Rs.10, Rs.20 and Rs.50
http://www.thehindu.com/news/national/live-narendra-modis-address-to-nation/article9320548.eceGoogle for more news links.
Yes, There are some preventive measures taken to deal with the situation but still it is one of the masterstroke by India prime minister Narendra Modi against black money.
How do you see this action and what kind of impact this will create on the bitcoin in India?
Best
Dudeperfect
I live in India, there are 4 notes in circulation now, Rs. 10, Rs. 20, Rs.50, and the Rs. 100.
The new notes will come in circulation from the Jan of 2017.
We just have to wait till then.
From tomorrow onwards you can get new currency of Rs 2000 from banks and ATM s will be offline even tomorrow as they will be updating the software regarding the change and more over people can change the old currency through banks as banks will be open even on sunday but there is a limit on how much you can exchange per day and it is limited to just Rs 4000 a day