In order to put a check on black money, the government has demonetised Rs 500 and Rs 1,000 currency notes.

Prime Minister Narendra Modi made the declaration during his address to the nation on November 8, 2016 in which he said, “From midnight of November 8, 2016, Rs 500 and Rs 1,000 notes currently in use are no longer legal tender.”

Modi is of the opinion that corruption and black money need to be uprooted from the soil of India.


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