Demonetization

found: Work cat.: Demonetizations, digital India and governance, 2017:t.p. (Demonetization) page 1 (Demonetization is the act of stripping a currency unit of its status as legal tender; historically Indian government has demonetized currency in January 1946 and then in 1978) page 3 (to fight evils of black money government of India withdrew the legal tender rs 500 and rs 1,000 from the midnight of November 8, 2016; new rs 500 and rs. 2000 bank notes was also introduced)

found: Times of India archives, viewed on January 2nd, 2018(On November 8, 2016, Prime Minister Narendra Modi in a surprise announcement said the existing higher denomination currency (Rs 500 and Rs 1000) will cease to be legal tenders; In 1936, Rs 10,000, which was the highest denomination note, was introduced but was demonetised in 1946; Though, it was re-introduced in 1954 but later, in 1978, the then Prime Minister Morarji Desai in his intensive move to counter the black money, introduced the High Denomination Banks Act (Demonetisation) and declared Rs 500, Rs 1000 and Rs 10,000 notes illegal)

found: Investopedia website viewed on December 18, 2017(Demonetization is the act of stripping a currency unit of its status as legal tender; It occurs whenever there is a change of national currency; The current form or forms of money is pulled from circulation and retired, often to be replaced with new notes or coins; Sometimes, a country completely replaces the old currency with new currency) The opposite of demonetization is remonetization, in which a form of payment is restored as legal tender)