How India's demonetisation has impacted its neighbouring countries

The surprise withdrawal of big banking notes effects the traders in India's neighboring countries as well.

A man holds a charred facsimile of Indian currency 500 note outside Reserve Bank of India in Kolkata, as traders demand better exchange facilities Source: AP

Tourists and students in India's neighbouring countries have no choice but to sell their notes in half price.

On the whole though, the demonestisation policy is the first step in making India a cash-less economy. So how will that impact on India's financial trading with BRICS and BIMST-EC groups.

Economist Dr.A.C.Vaid explains, the decision will help institutionalize the whole of the economy.