Read the given news article. On 8th November 2016, the government of India announced the demonetization of all 500 and 1000 bank notes of the Mahatma Gandhi series. The government claimed that the action would cut down the low economy and crack down on the use of black money to fund illegal activity and terrorism. The sudden nature of the announcement and the prolonged cash shortages in the weeks that followed created significant disruption throughout the economy.