Demonetisation, a victory 125 crore Indians: PM Modi on first anniversary of note ban

PM Modi announced the scrapping of Rs 500 and Rs 1,000 notes on November 8 last year, in a surprise move.

NEW DELHI: On November 8, 2016, Prime Minister Narendra Modi appeared on our TV screens. In a surprise move, he scrapped currencies or notes with denominations of Rs 1,000 and Rs 500 from midnight. A turning point in the Indian economy, demonetisation or notebandi (in Hindi) was called an assault on black money, fake currency and corruption. In the weeks that followed, the economy faced severe cash shortage with new notes of Rs 2000 and Rs 500 being slowly circulated. Exactly a year later, the country is observing the first anniversary of demonetisation. The Opposition has termed today as "Black Day" while BJP-led centre is calling 'Anti-Black Money Day'. 

Here are the live updates on demonetisation anniversary 2017:

08 November 2017

12:52 IST

One of the main objectives of demonetisation was flushing out black money from the economy and expand the tax base. Here's how note ban impacted both.

12:50 IST

Demonetisation may cost the BJP at least this one vote in Himachal Pradesh. Staying in the Great Himalayan National Park alone, octogenarian Chatri Devi is determined to vote against demonetisation as her three banknotes are no good. Read more here.