Demonetization in India: Impact on Economy and Society
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Added on 2023/06/16
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AI Summary
In 2016, India's prime minister announced the demonetization of 500 and 1000 rupee notes to curb corruption and tax evasion. This move caused a decline in the money supply and forced people to adopt digital payment methods. The money market was affected, and the demand for cash decreased in the long run.
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