The objective of the project is to study the attitude of indian corporates towards currency risk management and the problems faced by the companies. In a major step to check black money, the government on tuesday discontinued rs 500 and 1000 currency notes the announcement in this regard was made by prime minister narendra modi during his address to the nation “from midnight nov 8, 2016 today, rs500 and rs1000 notes are no longer legal. Demonetization of currency - merits and demerits an essay not a speech for upsc prepration on the advantages and disadvantages of the currency recall by the indian government. In his 40-minute address, the prime minister took a firm stand on ending corruption, black money and unauthorised cash flow by banning the 500 and 1,000-rupee denominations this news made waves throughout india, especially considering the lack of a buffer between the announcement and the. The narendra modi government has made its big move against black money by making the present rs500 and rs1,000 currency notes illegal from nov 09 onwards, the government has effectively forced the entire country to go to the banks (or post offices) and have their cash (in those denominations).
Free 509 words essay on positive and negative impact of ban of rs500 and rs 1000 in india for school and college students impact of ban of currency note. One indian rupee is made up of 100 paise paper money comes in allotments of rs5, rs10, rs20, rs50, rs100, rs500 and rs1000 coins come in allotments of 10 paise, 20 paise, 25 paise, 50 paise, one rupee, two rupees and five rupees according to the reserve bank of india act (1934), coins can be issued up to. Overview the indian government has long struggled with the issue of the fake currency and black money in 1946 and in 1978, the respective indian governments turned to demonetization as the long-term solution to the problem the same historical event would take place in india in 2016 the process of. Anyone selling goods and services must accept these notes and coins in payment in india, one- rupee currency notes and coins as well as the small coins are legal tender up to certain amounts hence they are called limited legal tender but currency notes of higher denominations are unlimited legal tender thus, money.
With the introduction of the rupee symbol, our currency is now in a league amongst some of the powerful currencies of the world let us understand the rupee in detail the indian currency is called the indian rupee and the coins are called paise rupee is abbreviated as 'rs' a rupee is divided into 100 parts, each of. Money is the medium used by people to buy required goods or services it is used as the source to fulfill basic needs as well as source of comfort in life essay on money money is the most important source to live a healthy and prosperous life however cannot be compared by the importance of love and care both have their.
Indian rupee (iso code: inr) is the official currency of the republic of india the symbol of indian rupee typifies india's international identity for money transactions and economic strength the symbol is an amalgam of devanagari ra and the roman capital r with two parallel horizontal stripes running at the top. The bbc explains why india has banned 500 and 1000-rupee notes and what it means.
The history of indian currency not only spans centuries but also boasts quite a fascinating past read on for a brief glimpse of india's – and your wallet's – financial history the rupee in your pocket has a mysterious past behind mahatma gandhi's smiling face lies a long history of struggle, exploration, and. The next eight essays discuss various questions connected with the rise of prices in india of the remaining papers four are concerned with currency problems, one with the bank rate in india during the war, and five with the expediency of adopting protection as a means of developing indian manufactures the rise of prices.