When did the Government of India make the announcement with profound implications for the Indian economy?
Answer & explanation
Correct answer: option 2
The correct answer is option 2- November 8, 2016.
The Government of India, made an announcement on November 8, 2016 with profound implications for the Indian economy. The two largest denomination notes, ₹500, ₹1,000, were ‘demonetised’ with immediate effect, ceasing to be legal tender except for a few specified purposes such as paying utility bills.