(30.11.2016) The future of poker in India

30.11.2016

In the evening, November 8, Prime Minister of India, Narendra Modi, said  country’s news what about, after midnight out of circulation banknotes in denominations of 500 and 1k inr (USD rate is same as ruble). These is two biggest banknote, which accounted for 86% of Indian cash. Authorities said that in this way they want to stamp out tax-free “black cash”.

The Government of India has given people the opportunity until 24 November to exchange old banknotes for new up to 4 thousand rupees, of which 2000 were given cash, and the rest of 2000 at bank account. Until November 30, all citizens of India had the opportunity to put money into a bank account up to 250 thousand rupees, that then they will be able to take 20 thousand rupees per month, and if more than 250 thousand it is necessary to submit a declaration origin of the funds. A third of the country lined up in kilometer-long queues at the  ATMs, others too would rise, but not on that drive to the banks. Rich asked his servants to put their accounts in the bank 250 thousand rupees without declaration. Disinterested, of course, – 10% or even 25%. In general, as one would expect, the country began protests, protesters took to the streets. In India, he held a “day of anger” …

In general, it is possible for a long time to analyze the situation and how it will affect the economy of India, but we are with you interested in the question: What is the future for online poker in India? At the moment, nothing concrete to say impossible. The situation is quite complicated and is unlikely to stabilize until the new year. We are closely monitoring this situation and will keep you informed.