👉 Demonetisation is a process in which certain currency notes are removed from circulation and replaced with new ones. This can happen for various reasons, such as political or economic necessity. In many countries around the world, particularly in developing countries like India, demonetisation has been implemented to reduce the money supply and its influence on inflation, improve public finances, and enhance security of the economy. The aim is to make it more difficult for citizens to obtain and use these cash equivalents, reducing their value
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What is the definition of Demonetised? 🙋
👉 Demonetisation, also known as devaluation or devaluation of currency, is an action taken by a government to reduce the value of its currency in order to reduce inflation and stabilize the economy. This can be done through changes in the exchange rate between the country's currency and other currencies, or through measures such as removing coins from circulation. The main purpose of demonetisation is to make it more difficult for individuals to obtain new bills or coins, which can lead to increased demand for existing
What is the definition of Demonetisation? 🙋
👉 Demonetisation is a process where monetary assets are made available to the public for use, typically in exchange for a fee or compensation. This is often done as part of a government's efforts to reduce inflation and control currency usage. In the context of India, demonetisation was introduced on 1st January 2017 by the then Prime Minister Narendra Modi. The aim was to curb money laundering and terrorist financing, which were major sources of black money in the country. This
