Ministry of Finance informed Parliament govt implemented demonetisation to reduce incidence of fake notes. But counterfeiting of high value currency has risen sharply, fresh data shows.
India is bracing for a second currency note exchange program in less than 7 years, pulling its Rs 2,000 note out of circulation in an exercise that comes ahead of a series of crucial state polls.
RBI has asked banks to stop issuing Rs 2,000 notes, though it remains legal tender. Parties like AAP, TMC & BSP have criticised the move, saying it is against public interest.
Initial talks held on the possibility of India entering the programme that was started in 2017 between France, Germany and Spain to ensure European sovereignty in defence and security.
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