Question:
In which year, one thousand currency note was announced as invalid in India?
In which year, one thousand currency note was announced as invalid in India?
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Remember: 8th November 2016 marks the demonetization in India, when ₹500 and ₹1000 notes were scrapped.
Updated On: Sep 6, 2025
- 2015
- 2016
- 2017
- 2018
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Verified By Collegedunia
The Correct Option is B
Solution and Explanation
Step 1: Background of demonetization in India
On 8th November 2016, the Government of India announced demonetization of high-value currency notes of ₹500 and ₹1000.
Step 2: Reason for demonetization
The move was aimed at curbing black money, counterfeit currency, and corruption. After this announcement, ₹1000 notes and old ₹500 notes ceased to be legal tender.
Step 3: Correct year
Thus, ₹1000 currency notes were declared invalid in the year 2016.
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\boxed{2016}
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