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Prime Minister Narendra Modi's move of demonetization drive no doubt will convey out all the black money but this has caused panic amongst the general public. The ban, announced by Prime Minister Narendra Modi on 9/11/2016, has been met with wild shock almost throughout the board and the impact was virtually instantaneous. After issuing the ban, the prime minister categorically said that the notes in query were the centerpiece of all illegal money dealings within the country and, subsequently, wanted to be dealt with to curb the rampant black cash actions. Worth noting too is the fact that the ban on Rs 500 and a thousand denominations will hardly affect the opposite kinds like money alternate in the black market, notably gold, jewellery, and land. India's black market is a melting pot of a few of the country's largest illicit deals including 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, significantly to a large portion of the country's working class in addition to rural business institutions. The asset class status would give the Indians the chance of capitalizing gold and making it as liquid as the inventory of any listed agency.

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