Sentences with phrase «rupee note»
"Rupee note" refers to a currency denomination in the form of a paper bill used in several countries including India, Pakistan, Sri Lanka, Nepal, and others. It signifies a specific amount of money in the respective currency. Full definition
The government's removal of 500 - and 1,000 - rupee notes from circulation triggered a severe cash shortage.
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Bankers and operators of automated teller machines say the sudden shortage of cash in some Indian states is mainly the result of the central bank printing fewer 2,000 rupee notes over the past few months in favour of harder - to - hoard smaller bills.
The demonetization scheme will render the old 500 Rupees and the 1000 Rupees notes useless hence ceasing the funds of the anti-national and terrorist groups that often operate by the means of cash with these forms of notes.
India has already undergone one major demonetization scheme in the past, before Independence, in 1946, where the scheme was responsible in scraping off the 5000 Rupees and 10000 Rupees notes from existence.
Angry mobs are locking in bankers and insulting staff as India's banks fail to cope with Indian Prime Minister Narendra Modi's purge on the 500 rupee and 1,000 rupee notes.
And in November, India's government scrapped the 500 - and 1,000 - rupee notes, which many people used to pay for regular household products.
Not long ago, the government if India decided to demonetize the 500 and 1,000 rupee notes, which were worth $ 7 and $ 14 in value, and represented roughly 86 % of all the cash found in circulation within the country's borders.
In an effort to clamp down on corruption, India has withdrawn 500 and 1,000 rupee notes.
His feature directorial debut, Ek Hazarachi Note (1000 Rupee Note), has received over 30 awards.
Among other films opening in limited release this weekend are Kino Lorber's 1000 Rupee Note, First Run's The Ruins of Lifta, Shout!
Banks ran out of cash after the ban on 500 ($ 7) and 1,000 rupee notes, which accounted for about 85 % of the money in circulation.
Indian prime minister Narendra Modi announced that all 500 (# 6 / $ 7.50) and 1000 (# 12 / $ 15) rupee notes have been discontinued overnight.
A demonetization scheme was again run in India in the year 1978 against the 1000 Rupees, 5000 Rupees and the 10000 Rupees notes.
However, this time the 5000 Rupees and the 10000 Rupees notes were abolished for good.
«The Indian government has just abolished the 500 and 1,000 rupee notes and they are now facing the problem of liquidity shortage of paper money,» Liang told Bitcoin Magazine.
In trying to tackle corruption, India's Prime Minister banned all 500 and 1,000 rupee notes.
Take, for example, last year's mass demonetization strategy, where the Indian government decided to try and plug the black market and cull nontaxable income via the recall of all 500 - and 1,000 - rupee notes, which comprise about 86 % of the country's currency notes in circulation.
India is heading towards the digital economy at a rate of knots after removing 86 % of it's paper currency, the 500 and 1000 rupee note.