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India is nullifying their currency
Started:November 29th, 2016 (01:43 PM) by TraderSusan Views / Replies:112 / 5
Last Reply:November 30th, 2016 (01:09 AM) Attachments:0

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India is nullifying their currency

Old November 29th, 2016, 01:43 PM   #1 (permalink)
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India is nullifying their currency

Anyone hear about India nullifying their currency. Crazy!. Maybe this will lead to Bit Coin as the official currency.

Forbes Welcome

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Old November 29th, 2016, 05:18 PM   #2 (permalink)
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Surely gold would be the peoples choice?

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Old November 29th, 2016, 08:12 PM   #3 (permalink)
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they are only replacing 500 and 1000 note with new 500 and 2000 note.

>The first objective is to address counterfeit currency that Pakistan doing and pushing it to India to finance Terrorism.
India has no effective way of detecting the fake currency so they took the drastic step of replacing in the hope that it will slowdown the counterfeiting for the time being. The new notes have more security features and hopefully slowdown counterfeiting.

>The second objective is to address black money. A lot of people have black money in cash to avoid tax. Force them to declare or loose money.

>The third objective is to push people towards cashless system to avoid these problem longterm.
In India currently only 2% of total transactions are electronic.

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Old November 30th, 2016, 12:52 AM   #4 (permalink)
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bpr0 View Post
they are only replacing 500 and 1000 note with new 500 and 2000 note.

>The first objective is to address counterfeit currency that Pakistan doing and pushing it to India to finance Terrorism.
India has no effective way of detecting the fake currency so they took the drastic step of replacing in the hope that it will slowdown the counterfeiting for the time being. The new notes have more security features and hopefully slowdown counterfeiting.

>The second objective is to address black money. A lot of people have black money in cash to avoid tax. Force them to declare or loose money.

>The third objective is to push people towards cashless system to avoid these problem longterm.
In India currently only 2% of total transactions are electronic.

OMG, more security features means? Just its a paper,How 'll implement more security features?

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Old November 30th, 2016, 12:59 AM   #5 (permalink)
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OMG, more security features means? Just its a paper,How 'll implement more security features?

To make it more difficult to counterfeit ...Google it pls ...

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Old November 30th, 2016, 01:09 AM   #6 (permalink)
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To make it more difficult to counterfeit ...Google it pls ...

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skip it counterfeit currency, just curious about new currency security features.

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