English, asked by sanjayprajapatiraj, 4 months ago

What is meant by demonetization? Who was the Prime Minister at the time of demonetize announcement.​

Answers

Answered by Nil0007
2

Answer:

Demonetisation means an act of stripping the legal tender status of currency units. It happens whenever there is a change of any national currency. It involves the withdrawal of the current form or forms of money from being circulated usually replaced with new notes or coins

Answered by harikrishnanr4823
0

Answer:

cancellation of money

Explanation:

It also announced the issuance of new ₹500 and ₹2,000 banknotes in exchange for the demonetised banknotes. Prime Minister Narendra Modi claimed that the action would curtail the shadow economy and reduce the use of illicit and counterfeit cash to fund illegal activity and terrorism

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