You are here: Home » Economy & Policy » News
Business Standard

Economic terror forced Modi to abolish Rs 1,000 notes

RBI has estimated there were around 6.5 lakh fake currency notes, mostly in the Rs 500 and Rs 1000 denomination that were in circulation in 2015-16

Sai Manish  |  New Delhi 

It started with the interception of Ekramul Ansari, an Indian national, when he landed at the Indira Gandhi International Airport in Delhi from Dubai aboard Indigo Airlines flight 6E22 in April 18, 2014. Acting on prior information, sleuths of the Directorate of Revenue Intelligence (DRI) searched Ansari’s baggage which consisted of a trolley and a cardboard box containing detergent powder. Hidden in the box and cavities in the trolley were bundles of Rs 1000 currency whose value was almost Rs 50 lakh. A few days later when the Modi government came to power, the home ministry ...

TO READ THE FULL STORY, SUBSCRIBE NOW AT JUST Rs 149 A MONTH

Key stories on business-standard.com are available to premium subscribers only.

LOGIN

EMAIL / USER NAME
PASSWORD
REMEMBER ME Forgot password?

Not a member yet ? Resister Now

Connect using any below

  • Don't lose the opportunity of saving $26.77 per month
  • Don't lose the opportunity of saving $26.77 per month
Total Amount
Rs. 0.00
To proceed, kindly select a subscription package

WHAT YOU GET

On Business Standard Digital

  • Access your subscription from anywhere. Be it your computer, tablet or smartphone using a browser or the App, Your Choice.
  • Access to exclusive content, features, opinions and comment, hand-picked by our editors, just for you.
  • Pick your 5 favourite companies. Get all the news upates at the end of each day through E-Mail.
  • Pick the industry that you want to track. And get a daily news letter specific to that industry. Cut out the clutter.
  • And stay on top of your investments. Track stock prices in your portfolio
  • Access 18 years of archival data

On Digital

  • Seamless access to WSJ.com with your Business Standard digital account.
  • Experience the best of the Journal's reporting, video and interactive features.
  • Read about the people and events shaping business, finance, technology, politics, technology and culture.
  • Stay informed with newsletters - an easy way to get WSJ content straight to your inbox - making life easier on your busiest days.
  • More business executives read the Journal globally than any other publication.
*Note :
Our Partners are proud to be associated with this initiative and will contribute Rs 100 x 6 months thereafter, standard rate of Rs 149 will be charged.
Offer valid for Indian residents only
Requires you to share personal information like PAN, Date of Birth, and Income.
*Annual saving on WSJ subscription price of US$ 347.88 (12 months @ US$ 28.99 per month)
* 1US$ = 67.50 INR.
*Please note that this offer is not valid if you are/were a registered/existing user on WSJ Digital
RECOMMENDED FOR YOU

Economic terror forced Modi to abolish Rs 1,000 notes

RBI has estimated there were around 6.5 lakh fake currency notes, mostly in the Rs 500 and Rs 1000 denomination that were in circulation in 2015-16

Only time will tell whether cross border currency counterfeiters catch up or the Modi government succeeded in fortifying India against the devastating impact of cross border economic terror. It started with the interception of Ekramul Ansari, an Indian national, when he landed at the Indira Gandhi International Airport in Delhi from Dubai aboard Indigo Airlines flight 6E22 in April 18, 2014. Acting on prior information, sleuths of the Directorate of Revenue Intelligence (DRI) searched Ansari’s baggage which consisted of a trolley and a cardboard box containing detergent powder. Hidden in the box and cavities in the trolley were bundles of Rs 1000 currency whose value was almost Rs 50 lakh. A few days later when the Modi government came to power, the home ministry ... image
Business Standard
177 22

Economic terror forced Modi to abolish Rs 1,000 notes

RBI has estimated there were around 6.5 lakh fake currency notes, mostly in the Rs 500 and Rs 1000 denomination that were in circulation in 2015-16

It started with the interception of Ekramul Ansari, an Indian national, when he landed at the Indira Gandhi International Airport in Delhi from Dubai aboard Indigo Airlines flight 6E22 in April 18, 2014. Acting on prior information, sleuths of the Directorate of Revenue Intelligence (DRI) searched Ansari’s baggage which consisted of a trolley and a cardboard box containing detergent powder. Hidden in the box and cavities in the trolley were bundles of Rs 1000 currency whose value was almost Rs 50 lakh. A few days later when the Modi government came to power, the home ministry ...

image
Business Standard
177 22