First of all, I want to talk about the RBI's decision to phase out currency notes which are issued before 2005. Though this is a very good decision as per them it will counter black money and help weed out fake money circulating in system.
http://economictimes.indiatimes.com/news/economy/policy/currency-notes-issued-before-2005-to-be-withdrawn-post-march-31-rbi/articleshow/29210580.cms
Now, I want to present a picture of the traditional saving instrument which is used by Millions of people in India domestically. This is called as "Gullak" (Indian Piggy Bank).
http://economictimes.indiatimes.com/news/economy/policy/currency-notes-issued-before-2005-to-be-withdrawn-post-march-31-rbi/articleshow/29210580.cms
Now, I want to present a picture of the traditional saving instrument which is used by Millions of people in India domestically. This is called as "Gullak" (Indian Piggy Bank).
Now this Gullak will required to be broken. I have one of this, in which there are only currency notes and now I have to break it. Why such decisions by these Institutions always have the bearing/inconvenience on people who are saving their money legally.
counter black money and help weed out fake currency circulating through the system
counter black money and help weed out fake currency circulating through the system
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