WBCS.LIVE practice question

Demonetisation of Rs. 500 and Rs. 1000 currency notes was announced on

Solve this multiple-choice question and check the correct answer with its explanation below.

Answer options

  1. 8th November 2016
  2. 1st January, 2017
  3. 15th August, 2016
  4. 31st March, 2017

Correct answer and explanation

Correct answer: 8th November 2016

Explanation: āœ… Correct Answer: A) 8th November 2016 šŸ“š Explanation: The government of India announced the demonetization of all 500 and 1000 rupee notes on the evening of November 8, 2016. This move was intended to curb black money, corruption, and counterfeit currency. The announcement led to a massive and sudden change in the country's cash-based economy. it remains one of the most significant and debated economic decisions in modern Indian history.