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The Indian 1000-Rupee Banknote

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Questions and Answers

Which denomination of the Indian rupee was demonetized in 1946 and subsequently re-introduced in 1954?

₹10000
₹500
₹5000
₹1000 (correct)

When were the high-denomination banknotes of ₹1000, ₹5000, and ₹10000 demonetized to curb unaccounted cash money?

1938
1954
1978 (correct)
2000

Which government reintroduced the ₹1000 banknote in November 2000?

Government of India
Reserve Bank of India
British Government
Government of Atal Bihari Vajpayee (correct)

Who demonetized the ₹1000 banknote on 8 November 2016?

<p>Prime Minister of India Narendra Modi (C)</p> Signup and view all the answers

What were the claimed reasons for demonetizing the ₹1000 banknote in 2016?

<p>All of the above (D)</p> Signup and view all the answers

Flashcards

When was the ₹1000 note first demonetized?

In 1946, the Indian Rupee's ₹1000 note was taken out of circulation, only to be brought back in 1954.

What high-denomination notes were demonetized in 1978?

The Indian Government decided to remove ₹1000, ₹5000, and ₹10000 notes from circulation in 1978 to fight black money.

Who reintroduced the ₹1000 note in 2000?

In November 2000, the government of Atal Bihari Vajpayee reintroduced the ₹1000 note.

Who demonetized the ₹1000 note in 2016?

On 8th November 2016, Narendra Modi, the Prime Minister of India, decided to demonetize the ₹1000 banknote.

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What were the reasons behind the 2016 demonetization?

The 2016 demonetization of the ₹1000 note was aimed at curbing counterfeiting, black money, and terror funding.