dubai sources have stated that indian businessmen in the gulf region have responded positively to the currency demonetization measures announced by the government to tackle black money while others saddled with high denomination notes are worried about exchanging them abroad. Sudhesh Giriyan, Chief Operating Officer (COO) Xpress Money, has called it a bold and commendable move which will regulate black money and undeclared liquid assets.
Giriyan has said "He (Prime minister narendra Modi) has struck a blow for transparent ethical earning and made a move towards curbing grey finances. We believe that all stakeholders in the current global economic system have a responsibility to stamp out dubious sources of revenue that can be repurposed towards instability and disenfranchisement.
Sanjay Prasad, a graphic design professional in dubai, has said this is a good move in the long run but needs streamlining. "You can only deposit in Non Resident Ordinary Rupee (NRO) account but I only have a Non Resident Rupee (NRE) account so it is going to cause a lot of inconvenience in the next few months. Sudhesh Giriyan, Chief Operating Officer (COO) Xpress Money, has called it a bold and commendable move which will regulate black money and undeclared liquid assets.
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