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I am personally not sure about the impact of this. I am hoping it will bring some positive change, Indians do have a habit of hoarding huge amounts of cash. It'

I am personally not sure about the impact of this. I am hoping it will bring some positive change, Indians do have a habit of hoarding huge amounts of cash. It's not something specific to "black money hoarders". Anyway I pity the bank employees for the coming few weeks!

guruparan18 10y ago
Interesting no mention about gold, land or other valuables. This hits hard on the middle class who were holding money. Then there are ultra rich, for whom may be they are holding anywhere between 0%~30% of their black money in cash, others in other investments. For them, this is not a big issue.