Tag: Rupee

India’s Worthless Banknotes Pile Up To Three Times The Size of Mount Everest

Every action in this world has an equal reaction, although some consequences are impossible to predict. Ever since India made 23 billion banknotes virtually useless, the question becomes what to do with these growing piles of cash. For some people, this also creates a new business opportunity, as eBay is flooded with “old” rupee notes–perhaps not the most collectible item, but certainly a piece of history. Stockpiling Worthless Banknotes Is …
[Read More]

Indian Government Battles Illegal Rupee Exchanges With Indelible Ink

The financial situation in India is slowly getting out of hand. Not only are residents restricted to withdrawing a small amount of cash from ATMs, but the government is introducing even stricter measures. Indelible ink will be used to ensure the one-time exchange of old notes for new ones. This should prevent the illegal currency activity in the country, although it remains to be seen how useful this countermeasure will …
[Read More]