America has finally reacted to the bold move of Prime Minister Narendra Modi to scrap Rs 500 and Rs 1000 amounting to over Rs 14 lakh crore overnight. Today, US made it clear that it is supportive of demonetization as ban on higher denomination notes is key for curbing black money.
State Department Deputy spokesperson Mark Toner opined Demonetization would end illegal activities and beneficial for law-abiding citizens of the country. A statement has been issued by him in this regard.
Mark Toner: ‘I hope American Citizens who are residing in India have a clear understanding about Demonetization. Scrapping Rs 500 and Rs 1000 has caused inconvenience to a lot of Indians. Even Americans in India would have faced problems. Through the Embassy, We have informed the American Citizens about the situation. We support demonetization as it helps in wiping out of black money’.