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Read the news report given below and answer the question that follow:
In a 40 minute long speech Prime Minister Narendra Modi announced the demonetization of existing notes of ₹500 and ₹1,000 during a televised address on Tuesday evening.
Modi announced that the notes of ₹500 and ₹1,000 “will not be legal tender from midnight tonight” and these will be “just worthless pieces of paper. The PM also urged people to ‘join this mahayojna against the ills of corruption.
Here is a guide for you explaining everything about the move.
What is demonetization of currency?
Demonetization for us means that the Reserve Bank of India has withdrawn the old `500 and ₹1,000 notes as an official mode of payment. According to Investopedia, demonetization is the act of stripping a currency unit of its status as legal tender.
What was the reason?
The reasoning given by Modi was: (A) To tackle black money in the economy. (B) To lower the cash circulation in the country which “is directly related to corruption in our country, “ according to PM Modi. (C) To eliminate fake currency and dodgy funds which have been used by terror groups to fund terrorism in India. (D) The move is estimated to scoop out more than ₹5 lakh crore black money from the economy, according to Baba Ramdev, a staunch Modi supporter.
Q. How much black money is the move estimated to scoop out?
- a)₹4 lakh crore
- b)₹5 lakh crore
- c)₹ lakh crore
- d)₹7 lakh crore
Correct answer is option 'B'. Can you explain this answer?
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Read the news report given below and answer the question that follow:...
The move is estimated to scoop out more than more than Rs 5 lakh crore black money from the economy, according to Baba Ramdev, a staunch Modi supporter.
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Read the news report given below and answer the question that follow:...
Understanding Demonetization and Its Impact
The demonetization move announced by Prime Minister Narendra Modi was a significant economic decision aimed at addressing various financial issues in India, particularly black money.
Estimated Black Money Removal
- The demonetization is estimated to scoop out more than ₹5 lakh crore of black money from the economy.
- This figure was supported by Baba Ramdev, a prominent supporter of Modi, who highlighted the potential impact of the move on curbing illegal funds.
Reasons Behind the Decision
- The primary motives for demonetization include:
- A: Tackling black money that circulates outside the formal economy.
- B: Reducing cash circulation, which is directly linked to corruption.
- C: Eliminating counterfeit currency that has been used to finance terrorism in India.
Legal Tender Withdrawal
- The ₹500 and ₹1,000 notes were declared as "not legal tender" starting midnight following the announcement.
- This meant that these notes would effectively become "worthless pieces of paper."
Conclusion
The demonetization move aimed to address long-standing issues of black money, corruption, and counterfeit currency. The substantial figure of ₹5 lakh crore represents a significant portion of unaccounted wealth that the government sought to eliminate from the economy. This strategic approach was part of a broader initiative to enhance the integrity and transparency of the financial system in India.
The demonetization move announced by Prime Minister Narendra Modi was a significant economic decision aimed at addressing various financial issues in India, particularly black money.
Estimated Black Money Removal
- The demonetization is estimated to scoop out more than ₹5 lakh crore of black money from the economy.
- This figure was supported by Baba Ramdev, a prominent supporter of Modi, who highlighted the potential impact of the move on curbing illegal funds.
Reasons Behind the Decision
- The primary motives for demonetization include:
- A: Tackling black money that circulates outside the formal economy.
- B: Reducing cash circulation, which is directly linked to corruption.
- C: Eliminating counterfeit currency that has been used to finance terrorism in India.
Legal Tender Withdrawal
- The ₹500 and ₹1,000 notes were declared as "not legal tender" starting midnight following the announcement.
- This meant that these notes would effectively become "worthless pieces of paper."
Conclusion
The demonetization move aimed to address long-standing issues of black money, corruption, and counterfeit currency. The substantial figure of ₹5 lakh crore represents a significant portion of unaccounted wealth that the government sought to eliminate from the economy. This strategic approach was part of a broader initiative to enhance the integrity and transparency of the financial system in India.
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Read the news report given below and answer the question that follow:In a 40 minute long speech Prime Minister Narendra Modi announced the demonetization of existing notes of ₹500 and ₹1,000 during a televised address on Tuesday evening.Modi announced that the notes of ₹500 and ₹1,000 “will not be legal tender from midnight tonight” and these will be “just worthless pieces of paper. The PM also urged people to ‘join this mahayojna against the ills of corruption.Here is a guide for you explaining everything about the move.What is demonetization of currency?Demonetization for us means that the Reserve Bank of India has withdrawn the old `500 and ₹1,000 notes as an official mode of payment. According to Investopedia, demonetization is the act of stripping a currency unit of its status as legal tender.What was the reason?The reasoning given by Modi was: (A) To tackle black money in the economy. (B) To lower the cash circulation in the country which “is directly related to corruption in our country, “ according to PM Modi. (C) To eliminate fake currency and dodgy funds which have been used by terror groups to fund terrorism in India. (D) The move is estimated to scoop out more than ₹5 lakh crore black money from the economy, according to Baba Ramdev, a staunch Modi supporter.Q. How much black money is the move estimated to scoop out?a)₹4 lakh croreb)₹5 lakh crorec)₹ lakh crored)₹7 lakh croreCorrect answer is option 'B'. Can you explain this answer?
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Read the news report given below and answer the question that follow:In a 40 minute long speech Prime Minister Narendra Modi announced the demonetization of existing notes of ₹500 and ₹1,000 during a televised address on Tuesday evening.Modi announced that the notes of ₹500 and ₹1,000 “will not be legal tender from midnight tonight” and these will be “just worthless pieces of paper. The PM also urged people to ‘join this mahayojna against the ills of corruption.Here is a guide for you explaining everything about the move.What is demonetization of currency?Demonetization for us means that the Reserve Bank of India has withdrawn the old `500 and ₹1,000 notes as an official mode of payment. According to Investopedia, demonetization is the act of stripping a currency unit of its status as legal tender.What was the reason?The reasoning given by Modi was: (A) To tackle black money in the economy. (B) To lower the cash circulation in the country which “is directly related to corruption in our country, “ according to PM Modi. (C) To eliminate fake currency and dodgy funds which have been used by terror groups to fund terrorism in India. (D) The move is estimated to scoop out more than ₹5 lakh crore black money from the economy, according to Baba Ramdev, a staunch Modi supporter.Q. How much black money is the move estimated to scoop out?a)₹4 lakh croreb)₹5 lakh crorec)₹ lakh crored)₹7 lakh croreCorrect answer is option 'B'. Can you explain this answer? for Commerce 2024 is part of Commerce preparation. The Question and answers have been prepared according to the Commerce exam syllabus. Information about Read the news report given below and answer the question that follow:In a 40 minute long speech Prime Minister Narendra Modi announced the demonetization of existing notes of ₹500 and ₹1,000 during a televised address on Tuesday evening.Modi announced that the notes of ₹500 and ₹1,000 “will not be legal tender from midnight tonight” and these will be “just worthless pieces of paper. The PM also urged people to ‘join this mahayojna against the ills of corruption.Here is a guide for you explaining everything about the move.What is demonetization of currency?Demonetization for us means that the Reserve Bank of India has withdrawn the old `500 and ₹1,000 notes as an official mode of payment. According to Investopedia, demonetization is the act of stripping a currency unit of its status as legal tender.What was the reason?The reasoning given by Modi was: (A) To tackle black money in the economy. (B) To lower the cash circulation in the country which “is directly related to corruption in our country, “ according to PM Modi. (C) To eliminate fake currency and dodgy funds which have been used by terror groups to fund terrorism in India. (D) The move is estimated to scoop out more than ₹5 lakh crore black money from the economy, according to Baba Ramdev, a staunch Modi supporter.Q. How much black money is the move estimated to scoop out?a)₹4 lakh croreb)₹5 lakh crorec)₹ lakh crored)₹7 lakh croreCorrect answer is option 'B'. Can you explain this answer? covers all topics & solutions for Commerce 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Read the news report given below and answer the question that follow:In a 40 minute long speech Prime Minister Narendra Modi announced the demonetization of existing notes of ₹500 and ₹1,000 during a televised address on Tuesday evening.Modi announced that the notes of ₹500 and ₹1,000 “will not be legal tender from midnight tonight” and these will be “just worthless pieces of paper. The PM also urged people to ‘join this mahayojna against the ills of corruption.Here is a guide for you explaining everything about the move.What is demonetization of currency?Demonetization for us means that the Reserve Bank of India has withdrawn the old `500 and ₹1,000 notes as an official mode of payment. According to Investopedia, demonetization is the act of stripping a currency unit of its status as legal tender.What was the reason?The reasoning given by Modi was: (A) To tackle black money in the economy. (B) To lower the cash circulation in the country which “is directly related to corruption in our country, “ according to PM Modi. (C) To eliminate fake currency and dodgy funds which have been used by terror groups to fund terrorism in India. (D) The move is estimated to scoop out more than ₹5 lakh crore black money from the economy, according to Baba Ramdev, a staunch Modi supporter.Q. How much black money is the move estimated to scoop out?a)₹4 lakh croreb)₹5 lakh crorec)₹ lakh crored)₹7 lakh croreCorrect answer is option 'B'. Can you explain this answer?.
Read the news report given below and answer the question that follow:In a 40 minute long speech Prime Minister Narendra Modi announced the demonetization of existing notes of ₹500 and ₹1,000 during a televised address on Tuesday evening.Modi announced that the notes of ₹500 and ₹1,000 “will not be legal tender from midnight tonight” and these will be “just worthless pieces of paper. The PM also urged people to ‘join this mahayojna against the ills of corruption.Here is a guide for you explaining everything about the move.What is demonetization of currency?Demonetization for us means that the Reserve Bank of India has withdrawn the old `500 and ₹1,000 notes as an official mode of payment. According to Investopedia, demonetization is the act of stripping a currency unit of its status as legal tender.What was the reason?The reasoning given by Modi was: (A) To tackle black money in the economy. (B) To lower the cash circulation in the country which “is directly related to corruption in our country, “ according to PM Modi. (C) To eliminate fake currency and dodgy funds which have been used by terror groups to fund terrorism in India. (D) The move is estimated to scoop out more than ₹5 lakh crore black money from the economy, according to Baba Ramdev, a staunch Modi supporter.Q. How much black money is the move estimated to scoop out?a)₹4 lakh croreb)₹5 lakh crorec)₹ lakh crored)₹7 lakh croreCorrect answer is option 'B'. Can you explain this answer? for Commerce 2024 is part of Commerce preparation. The Question and answers have been prepared according to the Commerce exam syllabus. Information about Read the news report given below and answer the question that follow:In a 40 minute long speech Prime Minister Narendra Modi announced the demonetization of existing notes of ₹500 and ₹1,000 during a televised address on Tuesday evening.Modi announced that the notes of ₹500 and ₹1,000 “will not be legal tender from midnight tonight” and these will be “just worthless pieces of paper. The PM also urged people to ‘join this mahayojna against the ills of corruption.Here is a guide for you explaining everything about the move.What is demonetization of currency?Demonetization for us means that the Reserve Bank of India has withdrawn the old `500 and ₹1,000 notes as an official mode of payment. According to Investopedia, demonetization is the act of stripping a currency unit of its status as legal tender.What was the reason?The reasoning given by Modi was: (A) To tackle black money in the economy. (B) To lower the cash circulation in the country which “is directly related to corruption in our country, “ according to PM Modi. (C) To eliminate fake currency and dodgy funds which have been used by terror groups to fund terrorism in India. (D) The move is estimated to scoop out more than ₹5 lakh crore black money from the economy, according to Baba Ramdev, a staunch Modi supporter.Q. How much black money is the move estimated to scoop out?a)₹4 lakh croreb)₹5 lakh crorec)₹ lakh crored)₹7 lakh croreCorrect answer is option 'B'. Can you explain this answer? covers all topics & solutions for Commerce 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Read the news report given below and answer the question that follow:In a 40 minute long speech Prime Minister Narendra Modi announced the demonetization of existing notes of ₹500 and ₹1,000 during a televised address on Tuesday evening.Modi announced that the notes of ₹500 and ₹1,000 “will not be legal tender from midnight tonight” and these will be “just worthless pieces of paper. The PM also urged people to ‘join this mahayojna against the ills of corruption.Here is a guide for you explaining everything about the move.What is demonetization of currency?Demonetization for us means that the Reserve Bank of India has withdrawn the old `500 and ₹1,000 notes as an official mode of payment. According to Investopedia, demonetization is the act of stripping a currency unit of its status as legal tender.What was the reason?The reasoning given by Modi was: (A) To tackle black money in the economy. (B) To lower the cash circulation in the country which “is directly related to corruption in our country, “ according to PM Modi. (C) To eliminate fake currency and dodgy funds which have been used by terror groups to fund terrorism in India. (D) The move is estimated to scoop out more than ₹5 lakh crore black money from the economy, according to Baba Ramdev, a staunch Modi supporter.Q. How much black money is the move estimated to scoop out?a)₹4 lakh croreb)₹5 lakh crorec)₹ lakh crored)₹7 lakh croreCorrect answer is option 'B'. Can you explain this answer?.
Solutions for Read the news report given below and answer the question that follow:In a 40 minute long speech Prime Minister Narendra Modi announced the demonetization of existing notes of ₹500 and ₹1,000 during a televised address on Tuesday evening.Modi announced that the notes of ₹500 and ₹1,000 “will not be legal tender from midnight tonight” and these will be “just worthless pieces of paper. The PM also urged people to ‘join this mahayojna against the ills of corruption.Here is a guide for you explaining everything about the move.What is demonetization of currency?Demonetization for us means that the Reserve Bank of India has withdrawn the old `500 and ₹1,000 notes as an official mode of payment. According to Investopedia, demonetization is the act of stripping a currency unit of its status as legal tender.What was the reason?The reasoning given by Modi was: (A) To tackle black money in the economy. (B) To lower the cash circulation in the country which “is directly related to corruption in our country, “ according to PM Modi. (C) To eliminate fake currency and dodgy funds which have been used by terror groups to fund terrorism in India. (D) The move is estimated to scoop out more than ₹5 lakh crore black money from the economy, according to Baba Ramdev, a staunch Modi supporter.Q. How much black money is the move estimated to scoop out?a)₹4 lakh croreb)₹5 lakh crorec)₹ lakh crored)₹7 lakh croreCorrect answer is option 'B'. Can you explain this answer? in English & in Hindi are available as part of our courses for Commerce.
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Here you can find the meaning of Read the news report given below and answer the question that follow:In a 40 minute long speech Prime Minister Narendra Modi announced the demonetization of existing notes of ₹500 and ₹1,000 during a televised address on Tuesday evening.Modi announced that the notes of ₹500 and ₹1,000 “will not be legal tender from midnight tonight” and these will be “just worthless pieces of paper. The PM also urged people to ‘join this mahayojna against the ills of corruption.Here is a guide for you explaining everything about the move.What is demonetization of currency?Demonetization for us means that the Reserve Bank of India has withdrawn the old `500 and ₹1,000 notes as an official mode of payment. According to Investopedia, demonetization is the act of stripping a currency unit of its status as legal tender.What was the reason?The reasoning given by Modi was: (A) To tackle black money in the economy. (B) To lower the cash circulation in the country which “is directly related to corruption in our country, “ according to PM Modi. (C) To eliminate fake currency and dodgy funds which have been used by terror groups to fund terrorism in India. (D) The move is estimated to scoop out more than ₹5 lakh crore black money from the economy, according to Baba Ramdev, a staunch Modi supporter.Q. How much black money is the move estimated to scoop out?a)₹4 lakh croreb)₹5 lakh crorec)₹ lakh crored)₹7 lakh croreCorrect answer is option 'B'. Can you explain this answer? defined & explained in the simplest way possible. Besides giving the explanation of
Read the news report given below and answer the question that follow:In a 40 minute long speech Prime Minister Narendra Modi announced the demonetization of existing notes of ₹500 and ₹1,000 during a televised address on Tuesday evening.Modi announced that the notes of ₹500 and ₹1,000 “will not be legal tender from midnight tonight” and these will be “just worthless pieces of paper. The PM also urged people to ‘join this mahayojna against the ills of corruption.Here is a guide for you explaining everything about the move.What is demonetization of currency?Demonetization for us means that the Reserve Bank of India has withdrawn the old `500 and ₹1,000 notes as an official mode of payment. According to Investopedia, demonetization is the act of stripping a currency unit of its status as legal tender.What was the reason?The reasoning given by Modi was: (A) To tackle black money in the economy. (B) To lower the cash circulation in the country which “is directly related to corruption in our country, “ according to PM Modi. (C) To eliminate fake currency and dodgy funds which have been used by terror groups to fund terrorism in India. (D) The move is estimated to scoop out more than ₹5 lakh crore black money from the economy, according to Baba Ramdev, a staunch Modi supporter.Q. How much black money is the move estimated to scoop out?a)₹4 lakh croreb)₹5 lakh crorec)₹ lakh crored)₹7 lakh croreCorrect answer is option 'B'. Can you explain this answer?, a detailed solution for Read the news report given below and answer the question that follow:In a 40 minute long speech Prime Minister Narendra Modi announced the demonetization of existing notes of ₹500 and ₹1,000 during a televised address on Tuesday evening.Modi announced that the notes of ₹500 and ₹1,000 “will not be legal tender from midnight tonight” and these will be “just worthless pieces of paper. The PM also urged people to ‘join this mahayojna against the ills of corruption.Here is a guide for you explaining everything about the move.What is demonetization of currency?Demonetization for us means that the Reserve Bank of India has withdrawn the old `500 and ₹1,000 notes as an official mode of payment. According to Investopedia, demonetization is the act of stripping a currency unit of its status as legal tender.What was the reason?The reasoning given by Modi was: (A) To tackle black money in the economy. (B) To lower the cash circulation in the country which “is directly related to corruption in our country, “ according to PM Modi. (C) To eliminate fake currency and dodgy funds which have been used by terror groups to fund terrorism in India. (D) The move is estimated to scoop out more than ₹5 lakh crore black money from the economy, according to Baba Ramdev, a staunch Modi supporter.Q. How much black money is the move estimated to scoop out?a)₹4 lakh croreb)₹5 lakh crorec)₹ lakh crored)₹7 lakh croreCorrect answer is option 'B'. Can you explain this answer? has been provided alongside types of Read the news report given below and answer the question that follow:In a 40 minute long speech Prime Minister Narendra Modi announced the demonetization of existing notes of ₹500 and ₹1,000 during a televised address on Tuesday evening.Modi announced that the notes of ₹500 and ₹1,000 “will not be legal tender from midnight tonight” and these will be “just worthless pieces of paper. The PM also urged people to ‘join this mahayojna against the ills of corruption.Here is a guide for you explaining everything about the move.What is demonetization of currency?Demonetization for us means that the Reserve Bank of India has withdrawn the old `500 and ₹1,000 notes as an official mode of payment. According to Investopedia, demonetization is the act of stripping a currency unit of its status as legal tender.What was the reason?The reasoning given by Modi was: (A) To tackle black money in the economy. (B) To lower the cash circulation in the country which “is directly related to corruption in our country, “ according to PM Modi. (C) To eliminate fake currency and dodgy funds which have been used by terror groups to fund terrorism in India. (D) The move is estimated to scoop out more than ₹5 lakh crore black money from the economy, according to Baba Ramdev, a staunch Modi supporter.Q. How much black money is the move estimated to scoop out?a)₹4 lakh croreb)₹5 lakh crorec)₹ lakh crored)₹7 lakh croreCorrect answer is option 'B'. Can you explain this answer? theory, EduRev gives you an
ample number of questions to practice Read the news report given below and answer the question that follow:In a 40 minute long speech Prime Minister Narendra Modi announced the demonetization of existing notes of ₹500 and ₹1,000 during a televised address on Tuesday evening.Modi announced that the notes of ₹500 and ₹1,000 “will not be legal tender from midnight tonight” and these will be “just worthless pieces of paper. The PM also urged people to ‘join this mahayojna against the ills of corruption.Here is a guide for you explaining everything about the move.What is demonetization of currency?Demonetization for us means that the Reserve Bank of India has withdrawn the old `500 and ₹1,000 notes as an official mode of payment. According to Investopedia, demonetization is the act of stripping a currency unit of its status as legal tender.What was the reason?The reasoning given by Modi was: (A) To tackle black money in the economy. (B) To lower the cash circulation in the country which “is directly related to corruption in our country, “ according to PM Modi. (C) To eliminate fake currency and dodgy funds which have been used by terror groups to fund terrorism in India. (D) The move is estimated to scoop out more than ₹5 lakh crore black money from the economy, according to Baba Ramdev, a staunch Modi supporter.Q. How much black money is the move estimated to scoop out?a)₹4 lakh croreb)₹5 lakh crorec)₹ lakh crored)₹7 lakh croreCorrect answer is option 'B'. Can you explain this answer? tests, examples and also practice Commerce tests.
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