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White Collar Journal (February 2017)


On November 8, 2016, the Indian Government announced the demonetization of high denomination currency notes of INR 500 and INR 1000 (“Specified Bank Notes”). The move indicated a resolve to combat the hoarding of black money (and unaccounted money) as well as counterfeit currency, but its implementation was affected by the illegal exchange of the Specified Bank Notes by hoarders.;

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