Demonetisation means taking back of legal currency of country. in India the demonetization take place there times. Recent demonetization took place on 8 November 2016. The main object of demonetization is to reduce corruption and reduce black money and fake currency. In 1946, as the world was just out of the jolt of the Second World War and India was at the peak of anti-colonial struggle, the British Raj conducted its own version of demonetisation. This was first instance of demonetisation in India.
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