In his first cabinet decision, Modi set up a team to investigate black money. On 9 November 2016, the government demonetised ₹500 and ₹1000 banknotes, with the stated intention of curbing corruption, black money, the use of counterfeit currency, and terrorism. The move led to severe cash shortages, a steep decline in the Indian stock indices BSE SENSEX and NIFTY 50, and sparked widespread protests throughout the country. Several deaths were linked to the rush to exchange cash. In the subsequent year, the number of income tax returns filed for individuals rose by 25%, and the number of digital transactions increased steeply.