Difference between old currency and new currency .
Mention this points :-
1. What happened on 8th November 2018 in india, regarding the changes in currency.
2.Name the term given to the act of change in currency .
3. What is the history of this act of change in currency .
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1. On 8th November 2018, old 500 and thousand notes were banned and new 200,500 and 2000 notes were launched.. also new notes of 10,20,50 and 100 were launched. Although it was not compulsory to have these notes but the thing which was compulsory was to exchange the old banned notes
2. Demonetisation Act
3. The 1000₹ notes were the largest currency notes ever printed by the Reserve bank of India which were introduced first time in 1938
(note: this act was applied to Indian economy in order to remove black money from Indian economy)
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