2016
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Rs. 1.7 trillion
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Rs. 4.3 trillion
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Rs. 2.8 trillion
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Rs. 3.9 trillion
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Detailed explanation-1: -Let us take a look with available data. Did demonetisation achieve the target of ending the killing black money economy? According to Reserve Bank of India (RBI) data, almost the entire chunk of money (more than 99 percent) that was invalidated came back into the banking system.
Detailed explanation-2: -The Reserve Bank of India had initially stipulated a window of fifty days until 30 December 2016 to deposit the demonetised banknotes as credit in bank accounts. The banknotes could also be exchanged over the counter of bank branches up to a limit that varied over the days.
Detailed explanation-3: -Increase in Deposits: demonetization has increased the deposits in Banks. Unaccounted money in the form of Rs. 500 and Rs. 1000 were flowing to the Banks and the sizes of deposits have been increased.
Detailed explanation-4: -Impact of Demonetisation in India One had various positive impacts, such as digitalizing transactions, decreased terror activities, etc. On the other hand, various negative impacts were seen, such as a dip in GDP, major layoffs in the private sector, etc.