<h1>India Demonetization: Rs. 500 and Rs. 1,000 Notes Withdrawn to Tackle Black Money and Fake Currency Issues.</h1> The withdrawal of legal tender status for Rs. 500 and Rs. 1,000 notes was introduced to combat the rise of fake currency, black money, and its misuse in illegal activities. These notes, issued by the Reserve Bank of India, ceased to be valid for transactions from November 8, 2016. They could be exchanged at RBI offices or deposited in banks until December 30, 2016. Various guidelines were issued regarding the exchange, deposit, and withdrawal limits to facilitate the transition, including special provisions for farmers, weddings, and non-resident Indians. The scheme aimed to encourage digital transactions and ensure adequate cash flow for essential needs.