Demonetisation is a monetary policy where a government declares certain currency notes invalid, removing them from circulation. In India, the Reserve Bank of India (RBI) implemented this policy on August 18, 2016, by invalidating high-denomination notes (₹500 and ₹1000) to combat black money, counterfeit currency, and promote digital payments. The policy required citizens to deposit old currency at banks within a specified timeframe, while new polymer notes were introduced to replace the demonetized currency.
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Demonetisation News : ১৮ আগস্ট কিসের নোটবন্দি? | RBI | Note Ban | Old Currency | New Currency
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