Prime Minister of India Narendra Modi announced the demonetisation in an unscheduled live televised address at 20 : 00 Indian Standard Time ( IST ) on 8 November.
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Nitish Kumar, Arvind Kejriwal and Rahul Gandhi alleged that the BJP made large purchases of land in Bihar ahead of the demonetisation because they had prior information.
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As a combined effect of demonetisation and US presidential election, the stock market indices dropped to an around six-month low in the week following the announcement.
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In 2003, rumours of another pending demonetisation swept through the country, resulting in the junta issuing official denials, but this time, the demonetization did not materialise.
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Several government ministers had declared before the demonetisation that they were holding large amounts of cash, including Arun Jaitley, who had more than 65 lakh rupees in cash.
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On 24 November 2016, in the demonetisation debate, the former prime minister of India Manmohan Singh said " this scheme will hurt small industries, the farming sector.
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In an interview, Chief Minister of Delhi Arvind Kejriwal lashed out at a BBC reporter who asked him to justify his 19 November claim that 55 deaths were linked to demonetisation.
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A Congress-led opposition, which includes 13 political parties, opposed the current government on the demonetisation issue in the Winter Session of the Indian Parliament on 16 November 2016.
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The Constitutional validity of 1978 Act of Demonetisation was challenged in the Supreme Court of India, on the claimed grounds that it violated the then Fundamental Rights of India of property.
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In the days following the demonetisation, banks across the country faced severe cash shortages, which had detrimental effects on a number of small businesses, on agriculture, and on transportation.
How to say demonetisation in Hindi and what is the meaning of demonetisation in Hindi? demonetisation Hindi meaning, translation, pronunciation, synonyms and example sentences are provided by Hindlish.com.
