…………One such decisive step was taken in January 1946 when currency notes of Rs 1,000 and Rs 10,000, which were then in circulation, were demonetised primarily to curb unaccounted money. The higher denomination bank notes of Rs 1,000, Rs 5,000 and Rs 10,000 were reintroduced in 1954, and were again demonetised in January 1978. This action was taken through the with the passage of the High Denomination Bank Notes (Demonetisation) Act, 1978..........
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