Demonetisation—Indian Army soldiers help in printing new currency notes

In a bid to ease the currency crisis in India, the Reserve Bank of India (RBI) has sought the help of the Indian army. At least 200 army men have been deployed to work on a ‘war-footing’ at the currency note printing units across the country to aid staff members in the 24×7 printing process. … Read more

Indian Air force reducing cash transportation time from 21 days to 6 days

The time taken from printing currency notes to transporting it to distribution centers has come down from 21 days to just 6 days. The government is striving to improve it further over the next few weeks, said The Times of India report. All possible modes of transport including helicopters and Indian Air Force planes are … Read more

500, 1000 rupee notes will not be legal tender from midnight tonight: PM

Prime Minister Narendra Modi on Tuesday, in an unexpected address to the nation, said that the country was doing away with Rs 500 and Rs 1,000 notes in an effort to weed out corruption, black money and in turn poverty and terrorism. Modi said that the government believes the time has come to “take a … Read more