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What are the repercussions of 500 and 1000 rupee notes not being legal tender anymore?
I wanted to ask about the Indian government's decision to declare 500 and 1000 rupee notes as no longer legal tender. What do you think will be the repercussions of this decision?
The decision to withdraw 500 and 1000 rupee notes as legal tender is likely to have a major impact on the Indian economy. Several sectors are expected to be affected, including real estate, construction, and jewelry. It will also impact the banking industry as people rush to deposit their old notes and withdraw new ones. Overall, it is a major step towards curbing black money and counterfeit money in the country.