Prime Minister Modi announced the demonitization of Rs. 500 and Rs. 1000 on…
2017
Prime Minister Modi announced the demonitization of Rs. 500 and Rs. 1000 on ___________.
- A.
8th November 2016
- B.
8th October 2016
- C.
10th November 2016
- D.
15th December 2016
Show answer & explanation
Correct answer: A
On 8 November 2016, Narendra Modi announced the demonetization of ₹500 and ₹1000 currency notes in a nationwide address. The decision was taken to curb black money, counterfeit currency, corruption, and terror financing.
The demonetized notes ceased to be legal tender from midnight of the same day, and new ₹500 and ₹2000 notes were subsequently introduced.