economics easy MCQ

In which year did the Government of India announce the demonetization of Rs. 500 and Rs. 1000 currency notes?

  1. 2014
  2. 2015
  3. 2016
  4. 2017

Answer: 2016

Demonetization was announced on November 8, 2016, with the stated objectives of curbing black money, eliminating counterfeit currency, and pushing the economy towards digital payments. It resulted in 86% of the currency in circulation being temporarily withdrawn from the system.

Topic Indian Economy - Events
Exam Relevance SSC, Railway, UPSC
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