"The act of stripping a currency unit of its status as legal tender as a consequence of change in national currency. The current form or forms of money is pulled from circulation, often to be replaced with new notes or coins of the same of different denominations. On 8 November 2016 India witnessed this phenomenon, when the denomination of 500 and 1000 was cancelled and new notes for 500 and fresh denomination of 2000 and 200 hit the market. Fascinating topic in the financial world, download the presentation Demonetization to know more"

Saranya R Kurup

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