India Will Now Jail Junked Rupee Holders for 4 Years
As the deadline for handing in India’s decommissioned 500 and 1,000 rupee notes arrives, the government has signed a law jailing those who continue holding them. 4 Years’ Jail for Possessing Worthless Rupee Notes. The Indian Cabinet has cleared a so-called ordinance, transferring liability to consumers and away from banks and authorities after a final cut-off point of March 31. Consumers could thereafter land themselves in jail for four years. Regular consumers only have until tomorrow however to deposit the now officially “banned” notes. “From December 30, 2016, the banned notes [can] be....
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The second most populated country in the world is stepping up to the plate to consider Bitcoin and provide this digital, decentralized cryptocurrency an opportunity to flourish prior to regulating. With a population of over 1,232,530,000, India is a hotspot of potential for growth of the Bitcoin currency and community. Right on the top of the list of the most tech-oriented nations, India will take a leap forward should the Reserve Bank of India truly take a hands off approach towards the Bitcoin currency. As the Indian Rupee is calling for attention with higher rates of inflation, the....
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