Question

tell me something about demonetization

Answer 1

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Demonetisation is an act of cancelling the legal tender status of a currency unit in circulation. Anticipating positive changes on the liquidity structure as a whole, nations often adopt Demonetisation policy as a measure to counterbalance the current economic condition. Countries across the globe have used Demonetisation at some or the other point to control situations such as inflation and to boost economy. In November, Indian government banned the high denomination notes of Rs.1000 and Rs.500 as move to curb counterfeiting and money laundering.
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Answer 2

On 8 November 2016 , the government of India announced the demonization of all ₹500 and ₹1000 banknotes of the Mahatma Gandhi series.