The government of India announced demonetization of the currency notes of Rs 500 and Rs. 1000 on which date?
Answer & explanation
Correct answer: option 2
On 8 November 2016, the Government of India announced the demonetisation of all ₹500 and ₹1,000. This was done to fulfill the following objectives:
- fighting black money
- fake notes
- creating a cashless economy
- Reducing funding for terrorism