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Abstract
The decision of the demonetization was taken on November 8th, 2016 where Indian Prime Minister Sh. Narendra Modi announced that the notes of Rs. 500 and 1000 would be no longer used as now these notes are not legal tenders. After demonetization, RBI starts generating new notes of Rs. 500 and 2000 in place of old notes of Rs. 500 and 1000. The step of the demonetization was taken by Indian government as a consequence of increasing level of black money in Indian market.