Which of the following was NOT a key objective of the demonetisation initiative implemented in November 2016?
Increasing reliance on cash transactions
On 8 November 2016, the Government of India withdrew the legal tender status of the existing Rs 500 and Rs 1000 currency notes, an exercise commonly called demonetisation.
The stated objectives of the initiative were: to curb corruption and unearth black money hoarded in high-denomination notes, to eliminate counterfeit currency used to finance terror activities, and to push the economy towards digital payments and a less-cash or cashless system.
The initiative therefore aimed to reduce, not increase, reliance on cash transactions. So increasing reliance on cash transactions was not an objective; it was in fact the opposite of what demonetisation intended.
Hence, the option that was NOT a key objective is increasing reliance on cash transactions.
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