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Demonetization is the process in which a particular currency or valuable mineral is degraded as a legal tender. This happens when a certain currency is no longer in regular use within the country of origin, or when a newer currency comes into circulation. The latest demonetization, in India, was the suddenly announcement by Prime Minister of India on 8th November at 8.30 p.m. that ` 500 and `1,000 notes would not be legal tender from midnight of 8th November 2016. The announcement was made much after banking hours thus giving no body a chance for any foul play.

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