Indian ₹1000 Note First Demonetisation
The question asks for the year the Indian ₹1000 denomination notes were first demonetised.
India has experienced high-value currency demonetisation multiple times. The ₹1000 note, a significant denomination, was indeed demonetised previously.
Historical Demonetisation Event
The first instance of demonetisation for the ₹1000 note occurred in the year 1978. This action was taken by the government to curb unaccounted wealth and illegal transactions involving high-value currency.
Subsequent demonetisations, including that of the ₹1000 note in 2016, have also taken place, but 1978 marks the initial year this specific denomination was withdrawn from circulation for the first time.
Important Questions from Banking History or Facts
Which of the following is INCORRECT with respect to the repo rate?
Which bank was NOT nationalized during the bank nationalization process of 1969?
Which of the following is NOT an amphibian animal?
In which year was the Reserve Bank of India (RBI) established?
The name of the first bank established in India was
A. Bank of Hindustan
B. Reserve Bank of India
C. Imperial Bank
D. State Bank of India
