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Can India’s currency ban really curb the black economy?

Posted on 11 November 2016

On Tuesday night, in an unusual broadcast to the nation, Indian Prime Minister Narendra Modi scrapped 1,000 and 500 rupee notes in a bid to flush out tax evaders. The banknotes that were declared illegal tender represent more than 86% of cash in circulation in India. Economic analyst Vivek Kaul explains the fight against tax evasion.
The notes which have been withdrawn can be deposited in banks as well as post offices until 30 December and the money will be credited into the account of the individual depositing the money. Up to 4,000 rupees can also be exchanged in the bank…………………………………..Full Article: Source


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