<P> On 8 November 2016 , the Government of India announced the demonetisation , commonly called notebandi , of all ₹ 500 ( US $7.80 ) and ₹ 1,000 ( US $16 ) banknotes of the Mahatma Gandhi Series . The government claimed that the action would curtail the shadow economy and crack down on the use of illicit and counterfeit cash to fund illegal activity and terrorism . The sudden nature of the announcement -- and the prolonged cash shortages in the weeks that followed -- created significant disruption throughout the economy , threatening economic output . </P>
<P> On 8 November 2016 , the Government of India announced the demonetisation , commonly called notebandi , of all ₹ 500 ( US $7.80 ) and ₹ 1,000 ( US $16 ) banknotes of the Mahatma Gandhi Series . The government claimed that the action would curtail the shadow economy and crack down on the use of illicit and counterfeit cash to fund illegal activity and terrorism . The sudden nature of the announcement -- and the prolonged cash shortages in the weeks that followed -- created significant disruption throughout the economy , threatening economic output . </P>
when was 500 and 1000 rupee notes banned in india
when was 500 and 1000 rupee notes banned in india
8 November 2016
8 November 2016