Which of the following option shows the objective of "Demonetization"?
Answer & explanation
Correct answer: option 4
Demonetization is an act to cease a currency unit or to put an official stop on its status as a legal tender. The aim/objectives of Demonetisation are:
- Curb corruption
- Control counterfeiting (counterfeiting can be understood as fake currency)
- Stop use of currency for illegal activites
- To finish black money market