India's Supreme Court upholds legality of 2016 note ban decision

India's Supreme Court on Monday upheld the legality of the 2016 government decision to outlaw 86% of the country's cash in circulation.

In November, 2016, Prime Minister Narendra Modi personally led the shock move to outlaw 86% of the cash in circulation to target undeclared "black money" and fight corruption.

The petitioners included lawyers, a political party, co-operative banks and individuals, all of whom challenged the decision in the court.Our Standards:

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