PM Modi’s announcement to demonetise 500 and 1000 rupee notes shook the entire nation. People were caught off guard. Many were trying their level best to utilise whatever notes they had on their person. However, what about those hoarding crores of rupees in these denominations? Well, some of them had quite an extreme reaction.
Soon after the ban was announced, the police found several burnt remnants of 500 and 1000 rupee notes in Bareilly, UP.
The notes were reportedly brought in sacks, cut, damaged and then burned at the site.
The police have since seized the burnt remnants of the bank notes and informed the Reserve Bank of India officials about the incident.
It looks like the primary objective of PM Modi’s plan, rendering black money useless, seems to have worked out brilliantly. Bundles of notes valued in crores have immediately reduced to nothing but thick wads of paper.
News Source: The Times of India