Reviving 1978 decision!
Mumbai - The shocking move to demonetize Rs 500 and Rs 1,000 currency notes announced by PM Narendra Modi on Tuesday night is not new. Rs 1,000, 5,000 and 10,000 denomination notes were banned on 16 January, 1978. Transferring or receiving the greatest value of notes were banned. Besides banks and government institutions, even central bank provided information about the details of notes.