Scrapping of ₹500, ₹1,000 notes was in works for 6 months
Scrapping the old ₹500 and ₹1,000 currency notes from Tuesday midnight was reportedly in the works for six months. The design of the new ₹500 and ₹2,000 notes was finalised and the printing started three months ago. It is being said that even the top management of commercial banks were unaware of the development until PM Narendra Modi's speech.