Telangana News

Prime Minister Narendra Modi's decision to demonetize Rs 500 and Rs 1000 notes was reportedly taken 6 months ago and even his close associates had to know about it only after his public announcement on Tuesday.

Reportedly, Modi has etched this plan as a follow-up to the income disclosure scheme, which was the first official step to curb black money. Adding to it, even the process of printing of the new Rs 2,000 and Rs 500 denomination notes was also commenced 3 months ago.

Modi and RBI are now being applauded for closely guarding this historical phenomenon for so long,  especially in the age where media can reach every nook and corner.

However, it is to be noted that in the recent times, RBI has given some clues to indicate that such a development was in the offing. A few days ago, the RBI had instructed banks to increase the circulation of Rs 100 denomination notes. It even warned about the fake Rs. 100 notes.But none could predict those warnings would be followed by a historical announcement by PM.