Prime Minister Narendra Modi addressed the Nation on Tuesday to announce the ban imposed on Rs 500 and Rs 1000 currency notes. Why did he preferred to made the announcement after 8.30 PM?
As per the current system, Branches of all the banks in the country should report the total transactions to the Head Office by the end of day. This process will come to an end mostly before 8 PM.
Had if Narendra modi made an announcement in the morning or afternoon, Individuals having crores of Black Money would have used all their power to influence the bank officials either for conversion of notes with higher denominations or deposits. On the other hand, Many of Jewellery Shops will be shut down by 9 PM. So, There will be hardly anytime for the conversion of black money into jewellery items.
To prevent such practices, Prime Minister waited for the right time to disclose the shocking news to the corrupt.
As per the current system, Branches of all the banks in the country should report the total transactions to the Head Office by the end of day. This process will come to an end mostly before 8 PM.
Had if Narendra modi made an announcement in the morning or afternoon, Individuals having crores of Black Money would have used all their power to influence the bank officials either for conversion of notes with higher denominations or deposits. On the other hand, Many of Jewellery Shops will be shut down by 9 PM. So, There will be hardly anytime for the conversion of black money into jewellery items.
To prevent such practices, Prime Minister waited for the right time to disclose the shocking news to the corrupt.