Question

Features of demonitisation

Answer 1

Demonetization is the act of stripping a currency unit of its status as legal tender. It occurs whenever there is a change of national currency:

The current form or forms of money is pulled from circulation and retired, often to be replaced with new notes or coins.

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Answer 2

Answer:

The features of demonitisation are,

i) Elimination of fake currency.

ii) Reduction of lending rates.

iii) Attack on Hawala Transactions.

iv) Tax Collection

v) Money Collection

vi) Tax Compliance

vii) Controlling inflation etc.