Which currency notes were discarded by the Government of India in November 2016?
Show answer & explanation
Correct answer: C
Explanation
The correct answer is option 3 i.e. ₹500.
In November 2016, the Government of India demonetized ₹500 and ₹1,000 currency notes as part of a crackdown on black money, counterfeit currency, and corruption. The move aimed to encourage digital transactions and reduce cash-based transactions in the economy. People were required to exchange or deposit these notes within a specified period. New ₹500 and ₹2,000 notes were introduced to replace the demonetized currency, which caused widespread disruptions but was intended to strengthen the financial system.