Demonetisation necessary step to address corruption: US


The US today 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.

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.
“For sure, as it was a burden for some Indians, it was a bother for Americans who were likewise there, and we really put out an announcement through our US government office to American residents in India about the progressions,” Toner said.