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

US backs demonetisation move, says necessary to address corruption

Discontinuance of Rs 500 and Rs 1,000 notes is designed to target illicit cash proceeds from corruption and tax dodging

Press Trust of India  |  Washington 

US backs demonetisation move, says necessary to address corruption

The on Thursday supported India's move of demonetising and Rs 1,000 currency notes, saying that it was an "important" and "necessary" step to address corruption.

"We believe, an important and necessary step to crack down on this - illegal actions or illicit actions," State Department Deputy Spokesman said.



"citizens who are working and living in India, I think have the proper information now to exchange those notes or to get new notes, and it's a little bit of an adjustment, just as it was an inconvenience, I'm sure, for many Indians, but I think a necessary one to address corruption," Toner said in response to a question.

Discontinuance of the 500 and 1,000 rupee notes he said is designed to target illicit cash proceeds from corruption and tax dodging.

"With respect to your question about the impact on citizens, we got this question I think the day that this was announced," he said.

"Indeed, as it was an inconvenience for many Indians, it was an inconvenience for Americans who were also there, and we actually put out a statement through our embassy to citizens in India about the changes," Toner said.

US backs demonetisation move, says necessary to address corruption

Discontinuance of Rs 500 and Rs 1,000 notes is designed to target illicit cash proceeds from corruption and tax dodging

Discontinuance of Rs 500 and Rs 1,000 notes is designed to target illicit cash proceeds from corruption and tax dodging The on Thursday supported India's move of demonetising and Rs 1,000 currency notes, saying that it was an "important" and "necessary" step to address corruption.

"We believe, an important and necessary step to crack down on this - illegal actions or illicit actions," State Department Deputy Spokesman said.

"citizens who are working and living in India, I think have the proper information now to exchange those notes or to get new notes, and it's a little bit of an adjustment, just as it was an inconvenience, I'm sure, for many Indians, but I think a necessary one to address corruption," Toner said in response to a question.

Discontinuance of the 500 and 1,000 rupee notes he said is designed to target illicit cash proceeds from corruption and tax dodging.

"With respect to your question about the impact on citizens, we got this question I think the day that this was announced," he said.

"Indeed, as it was an inconvenience for many Indians, it was an inconvenience for Americans who were also there, and we actually put out a statement through our embassy to citizens in India about the changes," Toner said.
image
Business Standard
177 22

US backs demonetisation move, says necessary to address corruption

Discontinuance of Rs 500 and Rs 1,000 notes is designed to target illicit cash proceeds from corruption and tax dodging

The on Thursday supported India's move of demonetising and Rs 1,000 currency notes, saying that it was an "important" and "necessary" step to address corruption.

"We believe, an important and necessary step to crack down on this - illegal actions or illicit actions," State Department Deputy Spokesman said.

"citizens who are working and living in India, I think have the proper information now to exchange those notes or to get new notes, and it's a little bit of an adjustment, just as it was an inconvenience, I'm sure, for many Indians, but I think a necessary one to address corruption," Toner said in response to a question.

Discontinuance of the 500 and 1,000 rupee notes he said is designed to target illicit cash proceeds from corruption and tax dodging.

"With respect to your question about the impact on citizens, we got this question I think the day that this was announced," he said.

"Indeed, as it was an inconvenience for many Indians, it was an inconvenience for Americans who were also there, and we actually put out a statement through our embassy to citizens in India about the changes," Toner said.

image
Business Standard
177 22