Indian Honorable Prime Minister Narendra Modi yesterday came on TV and
announced unexpected announcement to curb black money. His government worked in
close coordination with RBI & Bank in top secrecy to ensure maximum impact.
His government announced that INR 500 & 1000 currencies notes will
not be accepted and must be changed at bank counter by submitting identity.
By doing so he would be able to identify the hoarders of black money and
then can trap them under the land of law.
The bigger impact will happen on terrorist group and naxal group
operating in India and run their organization using counterfeit currency. The
maximum usage of INR 500 & 1000 were used to collect ransom money to keep
the cash. At the same time, the factory of Indian counterfeit currency based
out of other countries used the currency to help their effort to push terrorist
into India & inflict maximum damages on all installations
They also used these currencies to buy out youngsters to fight against
Indian security forces. In my point of view, the bigger impact will happen on
unwarranted element working against India interest and at the same time
supporting their own economy.
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