As India moves more towards a ‘white’ economy,’ liquidating holdings overseas and stamping out counterfeiting must be key long-term goals.

"There are also restaurants set up solely to launder money. The current bold move will definitely help."

Zaveri Bazaar, India’s largest bullion market, accounts for nearly 40% of the country’s gold trade and houses hundreds of shops.

“There are very few customers in the market since the government’s announcement on Rs 500 and Rs 1,000 notes. We are small jewellers and ca...

Today, 86% (by value and 24% by volume) of the total currency in circulation is in the form of Rs 500 and Rs 1000 notes valued at Rs 14 lak...