Long queues continue outside banks and several ATMs have run out of cash in India, three days after 500 ($7) and 1,000 rupee notes were withdrawn as part of anti-corruption measures. The BBC visited many ATMs of big banks in Delhi and Mumbai but found them either shut or not dispensing cash. ATMs opened at … Read more
People have queued up outside banks across India to exchange 500 and 1,000 rupee notes after they were withdrawn as part of anti-corruption measures. Indians will be able to exchange their old notes, which stopped being legal tender at midnight on Tuesday, for new ones at banks until 30 December. The surprise move is part … Read more
Indian Prime Minister Narendra Modi Tuesday announced the existing currency notes of 500 and 1,000 Indian rupees will be withdrawn from the country’s financial system. According to Modi, the currency notes will no longer be legal tender from Tuesday midnight. “1,000 and 500 rupee notes will cease to be legal tender from midnight tonight and … Read more