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Questions
Define demonetisation.
What is meant by demonetisation?
Definition
Short Note
Solution 1
When a currency note or notes of particular denomination cease to be a legal tender, it is called demonetisation.
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Solution 2
Demonetisation is the process by which the government withdraws the legal tender status of currency. Legal tender refers to money that is used to pay for debts and other obligations.
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Chapter 8: Central Bank - Exercise [Page 158]
