Demonetisation and its effect on Indian economy.
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"Demonetisation and its effect on Indian Economy"
Demonetisation means stripping of a currency from the status of legal tenture. Demonetisation refers to a situation in which the currency, coin or note which is accepted nation wide becomes illegal to use.
Demonetisation in india is implemented in 2016 and the use of old 500 and 1000 rupee note become illegal.According to the RBI 99.5% of the money after demonetisation is submitted to the bank and remaining money which is approx 10000 crore is still unknown . The disposal of money is not known. Demonetisation in india is implemented in history too In 1946 when 1000 and 100000 rupees notes are banned .
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