Economics · Economy

Which of the following was NOT stated as an official primary objective behind the demonetization of ₹500 and ₹1000 bank notes announced on November 8, 2016?

Verified Solution4 OptionsUpdated: October 2026👁️1 View

1To unearth hidden black money and counter counterfeit currency.
2To digitize the economy and increase formal banking transactions.
3To permanently replace old soil-damaged paper notes as a routine currency management exercise.✓
4To curb the funding of Naxalite and terrorist activities.

Correct answer

To permanently replace old soil-damaged paper notes as a routine currency management exercise.

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