On 8 November 2016, the Government of India announced the demonetisation of all 1.5) INR 500 (USD 7.40) and INR 1,000 (USD banknotes of the Mahatma Gandhi Series. The logistical processes and preparations b. for printing new INR 500 and INR 2,000 ank notes began in early May 2016. f.
The stock indices fell over 6% on the day ollowing the announcement. I.
In the days following the demonetisation, ndia faced severe cash shortages.
The Indian government have demonetised bank notes on two prior occasions—once in 1946 and again in 1978. In both cases, the goal was to combat tax evasion by "black money" held outside the formal economic system. I. ndonesia
In December 2016, Indonesia’s Central Bank again revived a plan to cut three zeroes from the Rupiah. However, Indonesian Finance Minister said that the l. redenomination proposal is not on the list of egislative priorities for 2017.
If passed, there will be a six-year transition period in place to phase out old bills.