<h1>India Demonetizes 500 and 1,000 Rupee Notes to Combat Black Money and Corruption, Launches New Currency Notes.</h1> On November 8, 2016, a government announced the demonetization of 500 and 1,000 currency notes, effective midnight. The move aimed to curb black money, counterfeit currency, and corruption. Citizens were given until December 30, 2016, to deposit or exchange these notes at banks. The decision led to significant public inconvenience, with long queues at banks and ATMs. The government introduced new 500 and 2,000 rupee notes to replace the demonetized currency. This policy was part of broader economic reforms to promote digital transactions and reduce reliance on cash.