what is Demonetisation
Answers
Answered by
5
This concept surely seems familiar to all of us, as it is now filling newspapers and newsrooms across the country.
Demonetization is the legal act of making a currency invalid, and replacing it with a new one.In other words, it could be a removal of a particular currency, say Rs 1000, from circulation, and issuing a new one of equivalent value or denomination. Demonetization takes places also , when the currency of a nation changes.The concept of demonetization is not something new in modern India as it has gone through the same twice - in 1946 and 1978.
Demonetization is the legal act of making a currency invalid, and replacing it with a new one.In other words, it could be a removal of a particular currency, say Rs 1000, from circulation, and issuing a new one of equivalent value or denomination. Demonetization takes places also , when the currency of a nation changes.The concept of demonetization is not something new in modern India as it has gone through the same twice - in 1946 and 1978.
Answered by
5
The banning of a currency unit and its state as legal tender is known as Demonetisation. Demonetisation is important when there is a change of national currency.
Ankit1234:
mark as brainliest
Similar questions