Prime Minister Narendra Modi has said that demonetisation has helped reduce black money, increase tax compliance and formalization and given a boost to transparency.
 
In a tweet, Mr Modi said, these outcomes have been greatly beneficial towards national progress.
 
On this day, four years ago in 2016, the Prime Minister addressing the nation had announced about demonetization to break the grip of corruption and black money.
 
Mr Modi had said that the step will strengthen the hands of the common man in the fight against corruption, black money and fake currency.