Question

During the third demonetization in India, which among the following notes has been removed from circulation?
1. 500 and 100
2. 100 and 1000
3. 500 and 1000
4. 500 and 2000

Answer 1

Correct Answer - Option 3 : 500 and 1000

The correct answer is 500 and 1000.

• On 8 November 2016, the Government of India announced the demonetization of all ₹500 and ₹1,000 banknotes of the Mahatma Gandhi Series.
• It also announced the issuance of new ₹500 and ₹2,000 banknotes in exchange for the demonetized banknotes.
• The main objective of this demonetization is to curb black money.
• Demonetisation has been implemented twice -1946 and 1978 – in the past.
• The first currency ban: In 1946, the currency note of Rs 1,000 and Rs 10,000 were removed from circulation. 

• The motif on the new currency of India:

1. 10 Rupee note - Sun Temple
2. 20 Rupee note - Ellora Caves
3. 50 Rupee note - Hampi
4. 100 Rupee note - Rani ki vav
5. 200 Rupee note - Sanchi Stupa
6. 500 Rupee note - Red Fort
7. 2000 Rupee note -  Mangalyaan