India’s Scramble to Switch 23 Billion Banknotes: QuickTake Q&A – Bloomberg

India is withdrawing a lot of cash: all its 500-rupee ($7.40) and 1,000-rupee bills, to be precise. People have 50 days to switch the roughly 23.2 billion high-denomination notes in circulation at banks and post offices. It’s part of a move by Prime Minister Narendra Modi to crack down on corruption, unaccounted money and counterfeit currency.

Source: India’s Scramble to Switch 23 Billion Banknotes: QuickTake Q&A – Bloomberg

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