Question

Define demonetitation

Answer 1

Correction : Demonetization

Your answer :

Demonetization refers to an economic policy where a certain currency unit ceases to be recognized or used as a form of legal tender. In other words, a currency unit still loses its legal tender status as a new one comes into circulation.

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Answer 2

Hiii,
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Demonetization is the act of stripping a currency unit of its status as legal tender.Demonetization is necessary whenever there is a change of national currency. The old unit of currency must be retired and replaced with a new currency unit.
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ANKIT