President of India, Narendar Modi declared a war on black money and decided to ban 500 and 1000 Indian Rupees notes with immediate effect. New 2000 Indian Rupee notes were to be introduced. This may have tried to curve black money laundering however it also had an immediate effect on Non resident Indians and Indian Residents as the common person was required to deposit their money in the banks or face losing the value of them.
The problem also arose for famous actors as they required to borrow small notes from the servants etc. Has the problem now been resolved or is there still a problem. The immediate ban, was it though off or just spur of the moment, watch this video and find out the current situation.