Akhilesh Yadav announces old bank notes of Rs 500, Rs 1000 will be accepted for land registration till Nov 24

Uttar Pradesh Chief Minister Akhilesh Yadav on Tuesday announced that old currency notes of Rs 500 and Rs 1,000, recently banned by the government will be accepted, for land registration till November 24.

Earlier in the day, Akhilesh dispelling all fears, said that black money helped the Indian economy in times of global recession, quoting economy experts.

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His remarks come in the wake of the government's sudden decision to demonetise Rs 500 and Rs 1000 notes as a clampdown on black money, corruption and tax evasion.

This announcement came after Akhilesh called on the Centre to to at least keep the farmers out of the currency ban, as they needed the money to purchase fertilisers and seeds.

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