Indian Currency: No More 500- or 1,000-Rupee Notes
PYMNTS
NOVEMBER 8, 2016
Banks have 50 days to comply with the new directive, with individuals able to exchange those notes beginning Nov. As the site noted, earlier this year the Indian government garnered roughly $10 billion U.S. In place of the 500- and 1,000-rupee notes, a new set of 500-rupee and 2,000-rupee notes are being issued as replacements.
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