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Dec 27 (Reuters) - Indian prime minister Narendra Modi announced a shock move on Nov. 8 to ditch 500 and 1,000 rupee notes - worth a combined $256 billion - that he said were fuelling corruption, being forged and even paying for attacks by militants who target India.
The move has disrupted the daily lives of hundreds of millions of Indians who live in the cash economy that is estimated to account for a fifth of India's $2 trillion gross domestic product, but economists and some businesses say it could ultimately help broaden the formal economy and improve tax compliance.
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