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Prime Minister Narendra Modi's transfer of demonetization drive little question will deliver out all the black money however this has brought on panic amongst the public. The ban, introduced by Prime Minister Narendra Modi on 9/11/2016, has been met with wild shock almost throughout the board and the effect was almost instantaneous. After issuing the ban, the prime minister categorically said that the notes in question were the centerpiece of all unlawful money dealings within the country and, subsequently, wanted to be handled to curb the rampant black money activities. Worth noting too is the truth that the ban on Rs 500 and 1000 denominations will hardly affect the opposite varieties like money exchange within the black market, notably gold, jewellery, and land. India's black market is a melting pot of a few of the nation's greatest illicit deals together with corruption, laundering, human trafficking, and a host of different shoddy activities involving unaccounted money. However, analysts also acknowledge that there might be unfavorable penalties in the quick time period, particularly to a large portion of the country's working class as well as rural business institutions. The asset class standing would give the Indians the possibility of capitalizing gold and making it as liquid because the inventory of any listed firm.

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