5 Questions
Which act empowers the central government to declare banknotes as ceasing to be legal tender in India?
Reserve Bank of India Act, 1934
What is demonetization?
The act of withdrawing currency from circulation
What did the Supreme Court of India state about demonetization?
It satisfied the test of proportionality
What is the test of proportionality in the context of demonetization?
The test of whether the benefits outweigh the costs
What is the legal tender status of demonetized currency?
It is no longer valid for transactions
Test your knowledge on demonetization in India with this quiz! Learn about the legal basis, impact, and historical context of demonetization in India.
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