Which note is banned in India?
On 8 November 2016, the Government of India announced the demonetisation of all ₹500 and ₹1,000 banknotes of the Mahatma Gandhi Series. It also announced the issuance of new ₹500 and ₹2,000 banknotes in exchange for the demonetised banknotes.
Is 500 rupees note banned in India?
Starting from midnight 8 November 2016 all ₹500 and ₹1000 banknotes of the Mahatma Gandhi Series ceased to be a form of legal tender after a televised address to India by Prime Minister Narendra Modi.
How many currency notes are there in India?
The rupee is subdivided into 100 paise (singular: paisa), though as of 2019, coins of denomination of 1 rupee is the lowest value in use. The issuance of the currency is controlled by the Reserve Bank of India.
|Freq. used||₹10, ₹20, ₹50, ₹100, ₹200, ₹500, ₹2000|
|Rarely used||₹1, ₹2, ₹5|
Who is RBI Governor of India?
Which of the following are legal tenders in India?
The Indian rupee is the de facto legal tender currency in India. The Indian rupee is also legal tender in Nepal and Bhutan, but the Nepalese rupee and Bhutanese ngultrum are not legal tender in India. Both the Nepalese rupee and Bhutanese ngultrum are pegged with the Indian rupee.
Is 1000 rs note banned?
On 8 November 2016, Prime Minister Narendra Modi announced that “Starting from midnight 8th November 2016 all ₹1000 banknotes of the Mahatma Gandhi Series will not be accepted as a form of legal tender“, although new ₹500 and ₹2000 banknotes of the new Mahatma Gandhi New Series were unveiled.