📢 Too many exams? Don’t know which one suits you best? Book Your Free Expert 👉 call Now!


    ⚡ Azaadi sale - Celebrate Independence Day with Flat 55% Off On all courses! 13 to 17 Aug ⚡ Enroll Now

    Question

    What was the significant reason behind the Reserve Bank

    of India's (RBI) decision to withdraw ₹2000 denomination banknotes from circulation on May 19, 2023?
    A To combat inflation and reduce the fiscal deficit Correct Answer Incorrect Answer
    B To encourage the use of digital payments and reduce cash transactions Correct Answer Incorrect Answer
    C To eliminate counterfeit currency and reduce black money Correct Answer Incorrect Answer
    D To replace old banknotes with new denominations Correct Answer Incorrect Answer
    E To streamline the currency structure and reduce printing costs Correct Answer Incorrect Answer

    Solution

    The RBI's decision to withdraw ₹2000 denomination banknotes from circulation was aimed at curbing the circulation of counterfeit currency and reducing black money in the economy.

    Practice Next
    ask-question

    Not sure which exam is best for you Talk to our expert

    Get My Free Call