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What is the reason behind discontinuation of ₹500 and ₹1000 notes?
Can you tell me about the discontinuation of ₹500 and ₹1000 notes in India? What was the reason behind it?
Yes, the Indian government announced the demonetization of ₹500 and ₹1000 notes on November 8, 2016. The main reason behind this was to tackle the problem of black money, counterfeit currency and corruption in the country. It was a major step taken to move towards a digital and cashless economy