Demonetisation necessary step to address corruption: US

Discontinuance of the 500 and 1,000 rupee notes State Department Deputy Spokesman Mark Toner said is designed to target illicit cash proceeds from corruption and tax dodging.

By: PTI | Washington | Updated: December 1, 2016 1:53 pm
demonetisation india, demonetisation, demonetisation black money, black money, corruption, us india, india news “We believe, an important and necessary step to crack down on this – illegal actions or illicit actions,” State Department Deputy Spokesman Mark Toner said. (Source: File)

The US on Thursday supported India’s move of demonetising Rs 500 and Rs 1000 currency notes, saying that it was an “important” and “necessary” step to address corruption. “We believe, an important and necessary step to crack down on this – illegal actions or illicit actions,” State Department Deputy Spokesman Mark Toner said. “American citizens who are working and living in India, I think have the proper information now to exchange those notes or to get new notes, and it’s a little bit of an adjustment, just as it was an inconvenience, I’m sure, for many Indians, but I think a necessary one to address corruption,” Toner said in response to a question.

WATCH VIDEO: Petrol Pumps, Air Ticket Counters Will Not Accept Old Rs 500 Notes After December 2

Discontinuance of the 500 and 1,000 rupee notes he said is designed to target illicit cash proceeds from corruption and tax dodging.

“With respect to your question about the impact on American citizens, we got this question I think the day that this was announced,” he said. “Indeed, as it was an inconvenience for many Indians, it was an inconvenience for Americans who were also there, and we actually put out a statement through our US embassy to American citizens in India about the changes,” Toner said.

For all the latest India News, download Indian Express App

  1. K
    Kds
    Dec 1, 2016 at 9:49 am
    Looks like the burnt is still on among hand few ppl.who have lost lots of unaccounted money due to demonetisation.if Modi is dictator,then what about Pappu,Khujliwal,Mamta,Lalu,Mayabati,Mulayam......to name a few.Are they all great leaders shredding crocodil's tears for common man???
    Reply
    1. A
      Arjun
      Dec 1, 2016 at 9:15 am
      If demonetisation is a necessary step, then why doesnt US undertake it? Why doesnt US completely go cashless just like sweden? Americans are bunch of liars. They want to squeeze max profit using dictator modi.
      Reply
      1. A
        Arjun
        Dec 1, 2016 at 9:12 am
        Ya whynot, first arrest crooked hillary and cross check trump's conflict of intetest and then speak of india
        Reply
        1. R
          Raj Dhulia
          Dec 1, 2016 at 8:23 am
          Surely US based MNCs will gain huge benefits by this silly idea of going cashless.
          Reply
          1. A
            arvind
            Dec 1, 2016 at 12:12 pm
            what kind of headlines is this, How can a country tell this.. it should be some people or US govt.. anyways , this demonetisation is the worst step taken by the govt. 70 deaths and counting.
            Reply
            1. A
              ashok s
              Dec 1, 2016 at 10:55 am
              American s don't need to interfere in our internal matters
              Reply
              1. A
                ashok s
                Dec 1, 2016 at 11:37 am
                USA wants it multi b retail in India. First bhj was against but our foreign babaji compromise dd
                Reply
                1. B
                  Balasubramanya
                  Dec 1, 2016 at 9:15 am
                  Show this article to Kujlee and Didi so that they can learn something from America.
                  Reply
                  1. Load More Comments