The old Rs 500 and 1000 notes are withdrawn by the Reserve Bank of India as an official mode of payment is called demonetization. The government introduced new Rs 500 and Rs 2000 notes and request people to move towards a cashless economy or promote digital India. Prime Minister Narender Modi asserts that it will reduce the cash fund to illegal activity and terrorism. So take this quiz and know more about demonetization in India.
1. When demonetization is implemented?
A. 8 December 2016
B. 8 November 2016
C. 16 November 2016
D. 9 August 2018
2. What was the motive behind demonetization?
A. To curb black money
B. Stop fake money
C. To stop terror funding
D. All of the above
3. When was the first-time demonetization introduced in India?
A. 1945
B. 1946
C. 1978
D. 2016
4. Who was the RBI governor at the time of demonetization?
A. Raghu ram rajan
B. Shaktikanta Das
C. Urjit Patel
D. Viral Acharya
5. According to the economic survey 2017, what percentage of cash in circulation was rendered invalid due to demonetization action?
A. 86 percent
B. 70 percent
C. 90 percent
D. 50 percent
6. Which govt did demonetization in 1946?
A. Bhartiya Janta Party
B. Indian National Congress
C. Bahujan Samaj Party
D. None of these
7. Paper currency in India was introduced by the British govt in which year?
A. 1920
B. 1961
C. 1820
D. 1861
8. Which currency notes demonetized earlier?
A. 100
B. 10000
C. 1000
D. None of the above
9. Whose signatures are there on new currency notes?
A. Urjit Patel
B. Narender modi
C. Pranab Mukherjee
D. None of the above
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