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Demonetisation: 7 instances when Indian currency was withdrawn and reintroduced

Here is a timeline dedicated to the history of demonetisation in India

By Anjali Adlakha

There have been instances in the past when the status of the Indian currency as a legal tender was declared invalid, but this was the first time that the demonetisation drive left the citizens in a state of amazement with no cash in hand. It was not very long ago that demonetisation happened in India, it just went unnoticed. In 2011 small coins of 25 paise and less than that were demonetised and new series of 50 paise coins were introduced. In a move to tackle the menace of black money in the country, Morarji Desai government in 1978 decided to demonetise the denomination higher than 100 Rupees. Here is a timeline dedicated to the history of demonetisation in India.

 

Sources:

RBI
The Quint
Bank Note News
News18

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