8th November 2016 marked a historical date in India as Prime Minister, Shri Narendra Modi announced the demonetization of 500 and 1000 Rupee Banknotes. The two notes account for roughly 86% of all Rupees currently in circulation, and their withdrawal has created a profound cash crunch in the Indian economy. The move’s aim was to wash away the stock of “black money”.
Australia’s Department of Immigration and Border Protection (DIBP) has reported that the number of student visa applications for Australia have steadily increased since 2011. They have seen a growth of 7.8% every year from 2011 to 2016. The overall Student Visa Approval Rate also remain high at 90.5%.