Demonetisation and its effectWhen PM Modi announced that Rs with the denomination of 500/- and 1000/- would cease to be the legal tender from 9th of Nov, the whole country was stunned.
This decision caused sensation in the whole country.
Social Media was flooded with messages and information. People started counting the trash they had accumulated for years legally or illegally
The most interesting thing regarding the demonetisation was that people had devised various unique methods for transforming their black money in to white one. Some of these methods were as follows –
Depositing money in the accounts of their poor relatives and friends.
Enticing the people with some percentage of money for exchange.
Asking their employees to stand in the long queues in front of Banks and ATMs for getting money exchanged.
Hiring labors for some Rupees ranging from Rs 500/- to 700/- for becoming the part of long queues in front of banks/ ATMs.
Converting black money in to gold.
Paying a few months salaries in advance.
Paying back loans forcibly.
Using their influence / links with bank employees and so on.