Treasury Department spokeswoman Dawn Selak reported in a press release late Tuesday that the cash payments had been necessary as a result of “efficiency of U.S. and Intercontinental sanctions,” which isolated Iran in the Worldwide finance technique.
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Though information released by RBI in Nov 2021 showed that cash circulation in India has in fact improved significantly considering that demonetization and demonetization has not always converted cash users to digital buyers.[271]
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A jewellery store in a shopping mall with a recognize "We settle for ₹500 and ₹1,000 notes", even after they ended up now not valid banknotes. There have been experiences of men and women circumventing the limits imposed on exchange transactions by conducting many transactions at distinct lender branches, and by sending hired persons, staff members, and check here followers in teams to Trade large quantities of demonetised banknotes at financial institutions.
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The Obama administration had claimed the gatherings had been individual, but just lately acknowledged the cash was employed as leverage until eventually the Individuals were allowed to leave Iran. The remaining $one.
The government mentioned that the leading aim from the exercise was curbing black income, which provided money which had not been noted and thus was untaxed; money obtained by means of corruption, unlawful goods income and unlawful functions such as human trafficking; and copyright currency.
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[254] The Harvard Company Critique termed it "a circumstance study in inadequate policy and even poorer execution".[258] The frequent change within the narrative on objectives of the demonetisation to its obvious effect on the poorest on the inadequate made other critiques contacting The federal government's narrative as spins in watch on the "pointless suffering on India's poorest."[259]
“Sending the planet’s foremost state sponsor of terror pallets of untraceable cash isn’t just horrible coverage,” Royce reported.
Environment & Country Judge says Trump administration can’t use travel ban to maintain 80 refugees out in the U.S.
P. Chandrasekhar and Prabhat Patnaik wrote that demonetisation was unwanted and unsuccessful, while it weakened the financial system and adversely afflicted the lives and legal rights from the Indian people.[20]