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Why did the Indian government demonetize the current 500 and 1000 rupee notes and replace them with new notes?
Can you explain to me why the Indian government demonetized the current 500 and 1000 rupee notes and replaced them with new notes?
Yes, the Indian government's demonetization of the 500 and 1,000 rupee notes was an effort to fight corruption, black money, and counterfeit currency. The government believed that the large denominations of currency were being used for illegal activities and were facilitating the flow of black money in the economy.