In its affidavit in Supreme Court on the 2016 demonetisation decision, the Centre said, "Withdrawal of these legal tender was one of the significant steps in the enhanced formalisation of the economy with the aim of expanding opportunities for the millions living on periphery of economy."In its affidavit in Supreme Court on the 2016 demonetisation decision, the Centre said, "Withdrawal of these legal tender was one of the significant steps in the enhanced formalisation of the economy with the aim of expanding opportunities for the millions living on periphery of economy."