Important Questions/ Facts about Demonetization in India

The decision of Modi Govt to demonetize Indian currency especially the notes of Rs 500/ and Rs 1000/ has caused quake in the lives of Indians. Everywhere there is the talk of Demonetization in the country and the world.Read Important Questions/ Facts about Demonetization in India

There is appreciation as well as criticism of this decision of the govt. The students must also know about the great event that may change the face of our society. Make sure there shall be some questions regarding Demonetization in the exams .

Therefore the Examinees of Banking Sector ( IBPS), SSC CGL, Railways etc must read this article. We have prepared some questions on this topic. We hope you shall appreciate our this effort.

Questions related with Demonetization of 500 and 1000 rupee currency in India ( नोट बंदी से सम्बंधित प्रश्न / तथ्य )  -

Q. On which date did PM Narendra Modi address the Indian people announcing the Demonetization of Rs 500/ and Rs 1000/ ?

Ans - On 8th of November 2016

Q. When did the said currency cease to be the legal tender in India ?

Answer - From 9th of Nov ( after 12:00 midnight )

Q. What is the main motive behind this big move ?

Answer - to curb black money, terror funding and stop the use of fake currency available in the market.

Q. When was first time such decision taken in Indian history ?

Answer - In 1946.

Q. Which currency was demonetized that time ?

Answer - Currency notes of 1,000 and 10,000

Demonetization of 500 and 1000 rupee currency - Read Questions

Q. Which govt did that in 1946?

Answer - Congress

Q. When were the same measures taken place after 1946 ?

Answer - 16th January 1978 by Janata Party

Q. Which currency was affected that time ?

Answer - Rs, 1000, 5,000 and 10,000

Q. When did 25 paisa lose its existence ?

Answer - June 30, 2011

Q. What was the total currency in circulation in India on 28th October 2016 ?

Answer - 17.77 lakh crore

Q. In the annual report of Reserve Bank of India of 31st March 2016, how much currency denomination of Rs 500/ and Rs 1000/ was in circulation ?

Ans - 14.18 lakh crore out of total 16.42 lakh crore

Q. Who is Shantikanta Das ?

Answer - Economic Affairs Secretary

Q. Whose signature is there on the new notes ?

a. Prime Minister Modi b. President Pranab Mukherjee c. Governor of the RBI Urjit Patel

Answer - c

Q. What is the last date of tendering old currency ?

Ans - Dec 30, 2016

Q. How much money could have been exchanged with the legal one ?

Answer - Rs 4,000 up to 14th Nov and after that it was up to 4,500.

Q. How much money can a person deposit in his bank account ?

Ans- Up to Rs. 2,50,000

Q. Which news paper had previously given the news of this demonetization ?

Ans - Gujarati Newspaper called Akila on 1st April 2016

Q. Which agency shall receive the banned Old Currency after 30th of Dec 2016 ?

Ans- Reserve Bank of India

For more questions keep coming. If you have any information regarding the topic, you can share with us.

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6 thoughts on “Important Questions/ Facts about Demonetization in India

  1. Hi the information is very hlpful in my project but want to do the impact of Demonetisation on students if u can give some info. On this topic then i will vry greatfull to u

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