Question

SATQ
explain merits of demonstisations?
FAST​

Answer 1

Answer:

Demonetization is a process of stripping a currency unit of its status as a legal tender. In simple words, demonetized notes are no longer valid as legal currency. Usually, a new currency replaces the old currency unit/s

Explanation:

In 1946, the Reserve Bank of India had demonetized Rs. 1,000 and Rs. 10,000 currency notes which were then under circulation.

In 1954, the Government introduced new currency notes of Rs. 1,000, Rs. 5,000, and Rs. 10,000.

In 1978, the Moraji Desai Government demonetized Rs. 1,000, Rs. 5,000, and Rs. 10,000 to curb illegal transactions and anti-social activities.