<a href=NEWS.rin.ru'><a href=NEWS.rin.ru'> NEWS.rin.ru 
11 of November, 12:40

In India began the "money mad" because of rejection of banknotes Due to the sudden abandonment of banknotes in India millions of people are lining up to get their hands on cash.

Bank branches across the country reopened on Thursday after an unexpected one-night stop to give them the opportunity to gain new 500 and 2000 rupees.

Prime Minister Narendra modi has suddenly banned the old 500 and 1000 rupees during unplanned speech on Tuesday evening. The ban aims to combat corruption and tax evasion, and covered about 80% of the paper currency of the country. Residents have until 30 Dec to exchange them at banks or post offices.

"No need to rush in the early days, because people have a lot of time," said Finance Minister Arun Jaitly on Thursday. But the rapid introduction of new banknotes causes problems. And the government has set a daily limit to 4,000 rupees (about $ 60) during the exchange of the old notes.

28-year-old Raj Kumar was able to get cash from the Bank, but not enough to pay for my sister's wedding in two weeks. At the moment, he says he will have to negotiate with decorators and organizers, and convince them to wait until he gets the rest of the money.

"Money mad" is likely to disappear in the coming days. ATMs reopened on Friday with the new bills, although even those will have daily withdrawal limits of 2,000 rupees ($ 30). In addition, banks will remain open on the weekend.
sections: Economics, World News, Accidents

    Copyright © RIN 2005-