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Which denominations of currency was taken out of circulation in the demonetisation done in 2016?

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UP Police Constable 2024 Official Paper (Held On: 18th Feb 2024 Shift 1)
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  1. 100 & 500
  2. 1000 & 500
  3. 1000 & 2000
  4. 2000 & 500

Answer (Detailed Solution Below)

Option 2 : 1000 & 500
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Detailed Solution

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The correct answer is ​1000 & 500.

Key Points

  • It was issued by the Reserve Bank of India (RBI) on 8 November 2016 after the demonetization of ₹500 and ₹1000 banknotes.
  • The Indian 2000 rupee note (₹2000) is the denomination of the Indian rupee.
  • It has been in circulation since 10 November 2016.
  • ₹2,000 currency notes were launched for the first time after the Demonetization of 2016.
  • It is part of the new series Mahatma Gandhi of banknotes with a completely new design.
  • The Indian ₹2000 rupee note is the highest currency note printed by RBI which is in active circulation.
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