Moneycontrol Be a Pro
Get App
Last Updated : Nov 10, 2016 07:44 AM IST | Source: CNBC-TV18

India needs to move towards being a cashless economy: Jaitley

Earlier today, Finance Minister Arun Jaitley said that the Indian economy now needs to move towards being cashless. He also added that there is no need to panic for honest citizens who have cash at home.


In what is being popularly called a surgical strike against black money, last evening Prime Minister Narendra Modi announced the withdrawal of Rs 500 and Rs 1,000 rupee notes which are currently in circulation.


These notes, which are not legal tender now, can be deposited at banks or post offices till December 30.


Earlier today, Finance Minister Arun Jaitley said that the Indian economy now needs to move towards being cashless. He also added that there is no need to panic for honest citizens who have cash at home.

Close

Meanwhile, there are places like hospitals, medicine shops and petrol pumps which can accept these notes till the midnight of the December 11.


Also the RBI is expected to release new Rs 500 and Rs 2,000 rupee notes within the next few weeks.

Watch video for more...



The Great Diwali Discount!
Unlock 75% more savings this festive season. Get Moneycontrol Pro for a year for Rs 289 only.
Coupon code: DIWALI. Offer valid till 10th November, 2019 .
First Published on Nov 9, 2016 08:13 pm
Loading...
Sections
Follow us on
Available On
PCI DSS Compliant