AM­RIT­SAR:

Kuwait Times - - BUSINESS -

In­dian se­nior ci­ti­zens gather out­side a bank as they wait to de­posit and ex­change 500 and 1000 ru­pee notes in Am­rit­sar yes­ter­day. Long queues formed out­side banks in In­dia since the gov­ern­ment’s shock de­ci­sion to with­draw the two largest de­nom­i­na­tion notes from cir­cu­la­tion. In­dia’s gov­ern­ment asked its ci­ti­zens to put up with what it called the “short-term in­con­ve­nience” when it an­nounced the move to with­draw 85 per­cent of cur­rency in cir­cu­la­tion in a bid to tackle wide­spread tax eva­sion.

—AFP

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