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of <h1>RBI Withdraws Rs. 500 & Rs. 1000 Notes to Combat Black Money and Counterfeiting; No Deposit Limit Set.</h1> The Reserve Bank of India announced the withdrawal of Rs. 500 and Rs. 1000 banknotes, effective immediately. There is no limit on the amount that can be deposited into bank accounts. This move aims to curb black money and counterfeit currency. The notification was released in both Hindi and English on November 9, 2016, as part of a broader economic reform.
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