On November 8, 2016, the government announced a historic measure, with profound implications for the economy i.e Demonetisation. Which of the following option depicts a clear definition of the term Demonetisation?

Putting an official stop on the status of a currency as a legal tender

Demonetization is an act to cease a currency unit or to put an official stop on its status as a legal tender. On November 8, 2016, the two largest denomination notes were demonetized from immediate effect, ceasing it to be legal tender.