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In a television address to the nation on November 8, Prime Minister Modi said, “The magnitude of cash in circulation is directly linked to the level of corruption. Inflation becomes worse through the deployment of cash earned in corrupt ways.”
He said to break the grip of corruption and black money, the government has decided that from midnight Rs 500 and Rs 1,000 currency notes will cease to be legal tender.
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(Sourced from agencies, feature image courtesy:oneindia.com)
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