Isaca
A few months ago, on 8 November 2016, an unexpected announcement jolted the Indian nation. In a nationally televised address, the Prime Minister of India, Mr. Narendra Modi, announced the demonetization of rupees 500 and rupees 1,000 currency notes. This meant that the currency notes would no longer be considered as legal tender. The rupee 500 and rupee 1,000 notes at the time of demonetization represented more than 86 percent of the total value of currency under circulation. Withdrawal of s...