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Demonetization means that Reserve Bank of India has withdrawn the old Rs.500 and Rs.1000 currency as an official mode of payment. On November 8,2016, the prime minister of India Narendra Modi government has announced the Demonetization of all Rs.500 and Rs.1000 demonetization bank currencies . The demonetization announcement made the use of Rs.500 and Rs.1000 bank currencies invalid past midnight of November 8 2016 . It was also announced and introduced that the new Rs.500 and Rs.2000 bank currency new series would be introduced in exchange for the old bank currency. Demonetization policy of the Government has been termed as the greatest financial & economic reform that aimed to curb the black money, corruption and counterfeit currency notes. Because of this immediate demonetization activity the retail business industry has affected a lot.