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Q: Demonetisation was announced by Prime Minister Narendra Modi on :
  • A. 8 October, 2016
  • B. 8 November, 2016
  • C. 8 September, 2016
  • D. 8 December, 2016
Correct Answer: Option B - Demonetisation was announced by Prime Minister Narendra Modi on 8 November, 2016. Even before this, demonetization has happened twice in India. The British government did demonetization for the first time in 1946. After that, in January 1978, the Janata Party government of Morarji Desai did demonetization. High denomination notes were discontinued by bringing ordinances in 1946 and 1978. In 2005, Manmohan Singh (the then Prime Minister) had demonetized 500 notes.
B. Demonetisation was announced by Prime Minister Narendra Modi on 8 November, 2016. Even before this, demonetization has happened twice in India. The British government did demonetization for the first time in 1946. After that, in January 1978, the Janata Party government of Morarji Desai did demonetization. High denomination notes were discontinued by bringing ordinances in 1946 and 1978. In 2005, Manmohan Singh (the then Prime Minister) had demonetized 500 notes.

Explanations:

Demonetisation was announced by Prime Minister Narendra Modi on 8 November, 2016. Even before this, demonetization has happened twice in India. The British government did demonetization for the first time in 1946. After that, in January 1978, the Janata Party government of Morarji Desai did demonetization. High denomination notes were discontinued by bringing ordinances in 1946 and 1978. In 2005, Manmohan Singh (the then Prime Minister) had demonetized 500 notes.