A NEW HISTORY OF INDIAN CURRENCY NOTES                                        

8th november 2016 .the prime minister narendra modi declared demonentising of currency notes of rupees one thousand adnd five hundread to lose their tender value.The Pm thundered thet the black money would be unearthed in the public interest which is crippling the economy of this great nation .As a fall out panic was created as nobody would understand the real import of it . The nation heralded a new era of no money in circulation whether in bank or outside the banking sector.

  A serious threat to the economy persists mainy due to the black money component in our economy.Narendra Modi as candidate in look sabha election 2014 had proclaimed to bring black money from the foreign financial institutions within sixty days which will yield a deposit of rupees fifteen lacs in the account of each indian.nothing came out obviously beacuse it was a very difficult task.International banking regulations and diverse systems of money transaction would not allow any crusader also to attain favourable results. PM would be no exception to the general rule.

However, the demonetising of bigger currency notes rendering them out of circultion instantly impacted the common man who was also caught unawares. The strict ceiling limit of exchanging of old currency notes with new counterparts only for 4000/- and drawing through ATM worth rs.2000 created problems.Strangely enough withdrawal of money from own account deposited much before the demonetisation be imposed which has no direct bearing or nexus with the issue of demonetising.Long queues were seen in front of the bank across the country comprising mainly of housewives,ordinary people,retired public servants, grocers.small traders, vegetable vandors, rural folk and the like. The banks in various cases were not in readiness.The new currency notes of Rs.2000/-&Rs500/- were not readily avilable. The people got fumbled and infuriated .At many banks even the police escort would be summoned.The crowd was dismayed to find that no black money was discernible still the disciplined indians subdued themselves to the governmental dictate.