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Over three dozen petitions have been filed against the Centre’s November 8, 2016, move to ban currency notes of Rs 500 and Rs 1,000 denominations, following which the apex court had asked the Centre and RBI to file their replies.
The 2016 demonetisation was a "well-considered" decision and part of a larger strategy to combat the menace of fake money, terror financing, black money and tax evasion, the Union government has told the Supreme Court.
Here's how to exchange damaged currency notes, know what RBI rule states - How much amount will be received in exchange for a torn note, is decided by the price of the note and how much part of it is present.