BACHELOR OF BUSINESS ADMINISTRATION

BUSINESS ADMINISTRATION

BUSINESS ENVIRONMENT

Question [CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
____ is not a feature of demonetization.
A
Elimination of Corruption
B
Elimination of Counterfeit currency
C
Money laundering
D
Elimination of currency
Explanation: 

Detailed explanation-1: -Demonetization is the act of removing a currency unit’s legal tender status. It happens whenever the national currency changes. The current form or forms of money are removed from circulation and retired, frequently to be replaced by new notes or coins.

Detailed explanation-2: -The third option ‘to stop the use of low denomination notes for terrorist’s activities’ was not the objective of demonetization.

Detailed explanation-3: -It was done to reduce the presence of counterfeit cash to fund criminal activity. When the demonetization was announced, there were shortages of cash across the country, as people scrambled to exchange their existing banknotes.

Detailed explanation-4: -On 8 November 2016, the Government of India announced the demonetization of all ₹500 and ₹1, 000 banknotes of the Mahatma Gandhi Series. It also announced the issuance of new ₹500 and ₹2, 000 banknotes in exchange for the demonetized banknotes. The main objective of this demonetization is to curb black money.

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