Which of the following currency note was discarded by the Government of India in November 2016?  

Key Points

• The Government of India announced the demonetization of the Rs. 500 and Rs. 1,000 currency notes on 8th November 2016.
• This move was aimed at curbing black money, counterfeit currency, and corruption.
• New Rs. 500 and Rs. 2,000 notes were introduced after the demonetization.
• Citizens were given a limited time to exchange or deposit their old currency notes in banks.
• The demonetization led to a significant impact on the economy, affecting daily transactions and liquidity.

Additional Information

• Demonetization refers to the act of stripping a currency unit of its status as legal tender.
• The Reserve Bank of India (RBI) played a crucial role in the implementation of the demonetization policy.
• The move was part of a broader strategy to digitize the economy and encourage cashless transactions.
• Several measures were introduced to alleviate the inconvenience caused to the public, including increased limits on cash withdrawals.
• Demonetization has been used in other countries as well, with varying degrees of success and impact.