What primary action is taken by the government during demonetization?

Question

Economics · Indian Currency and Banking System

Verified Solution4 OptionsUpdated: October 2026👁️1 View

Share:

Correct answer

Stripping specific currency notes of their status as legal tender

Save this question and verified answer as a clean study sheet with live clickable link.

👥

Challenge your peer aspirants on WhatsApp or Telegram to solve this question!

Online Test Series

Practice full-length mock tests with real exam timers, instant score analysis, and all-India ranking.

Chapter Practice

Want more practice questions on Indian Currency and Banking System?

Solve complete topic-wise tests with detailed solutions on GkGet.

Recommended practice questions in Economics · Indian Currency and Banking System

The 'Drain of Wealth' theory was propounded by which Indian nationalist leader?

Which event is considered the turning point in Mahatma Gandhi's leadership in the Indian independence movement?

Which African leader is known for his non-violent opposition to colonial rule?

Answer 1

Banning the entry of foreign institutional investors

Answer 2

Stripping specific currency notes of their status as legal tender

Answer 3

Reducing the interest rates on personal bank accounts

Answer 4

Printing higher amounts of existing currency notes

Related Practice Questions