Practicing Success
What were the specified purposes for which the demonetized notes could still be used? |
Purchasing luxury items Paying utility bills International transactions Investing in the stock market |
Paying utility bills |
The Government of India, made an announcement on November 8, 2016 with profound implications for the Indian economy. The two largest denomination notes ₹500, ₹1,000, were ‘demonetised’ with immediate effect, ceasing to be legal tender except for a few specified purposes such as paying utility bills. |