Consequences before cancellations of INR 500 and INR 1000
Today's decision was not sudden. It merely started with bank account for all. Then linked bank accounts with aadhar... Then brought disclosure of bank account passport and aadhar no. in income tax return... Add to it the various data mining and collection tools in the hands of the income tax department... Then the income disclosure scheme... And this masterstroke... Truly a systematic change in the last 2 years!!!
Timing is also key - 8 pm announcement means no possibility to make last moment transaction at jewelers shop or any impact on share market Look at the timing! He's totally screwed the satta bazaar who are betting thousands of crores on the US elections results today. The results were to be out by 1 am, whereas the currency notes were worthless from 12 am