2016 India Demonetisation Currency Notes
On November 8, 2016, the Government of India announced the demonetisation of specific banknotes of the Mahatma Gandhi Series.
The primary goal was to curb the circulation of counterfeit notes, fight black money, and reduce terror financing.
- The currency notes that were demonetised were the old series of ₹500 and ₹1,000 denominations.
- These notes ceased to be legal tender effective from November 9, 2016.
- New banknotes of ₹500 and ₹2,000 denominations were introduced subsequently.
Therefore, the demonetised currency notes were ₹500 and ₹1,000.
Important Questions from Money and Banking
Dr. Urjit Patel, who has been appointed recently as Governor of Reserve Bank of India, was holding which position immediately prior to this appointment?
As per the RBI guidelines, which one of the following is the minimum tenure of Masala Bonds that an Indian company can issue offshore?
______ is a tax system that collects a greater share of income from those with high incomes than from those with lower incomes.
In which year had India's ratio of public debt to GDP gone up to a record 84.2%?
______ is an economic scenario where a peculiar combination of low growth and rising inflation leads to high unemployment.
