Which denominations were demonetized by the Indian Government in 2016?
- a) INR 200 and INR 500
- b) INR 500 and INR 1,000
- c) INR 1,000 and INR 2,000
- d) INR 100 and INR 500
Answer: b) INR 500 and INR 1,000
Explanation: In 2016, the Indian Government demonetized the INR 500 and INR 1,000 notes to curb black money and counterfeit currency.