21 sats \ 4 replies \ @Undisciplined 8 Aug \ on: Does India still follow Gold Standard for its Currency Indian Rupee (INR)? econ
That was great.
I remember there being a very controversial monetary reform a few years ago. My grad school friends were worried about being able to use their cash, because they weren't in country to turn it in to the government.
Can you refresh my memory about what that was?
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56 sats \ 3 replies \ @Coinsreporter OP 8 Aug
It was 'The great Indian Demonetization'
https://en.wikipedia.org/wiki/2016_Indian_banknote_demonetisation
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11 sats \ 2 replies \ @Undisciplined 8 Aug
How do people feel about that, now that it's been a few years?
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52 sats \ 1 reply \ @Coinsreporter OP 8 Aug
People never felt bad about it and now they even feel bad about it. It was managed so well that within a month everything went normal.
Only corrupt people and politicians criticised and felt it was not a good move.
Surprisingly, it was the first ever Demonetization after India's independence in 1947. Much required. Wasn't it?
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11 sats \ 0 replies \ @Undisciplined 8 Aug
Yeah, I didn't hear much about it after the initial irritation.
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