Demonetization, the term simply understands as the withdrawal of particular form of currency from circulation.

We today need to understand the term as India has taken the major decision to demonetize the denomination of 500 and 1000 which are India's high denomination note.

Demonetization needs when black money in any country has increased and become a danger to the economy of particular country. To cure the nation from corruption and using of black money, the policy of Demonetization is used. In Demonetization, government nulls the old currency and introduces new currency instead of.

With adopting this policy, the black money automatically comes to an end as the people who deal in black money, can't make it turn into white.

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