![On 8th November 2016, with the announcement from Government of India](https://www.gkseries.com/blog/wp-content/uploads/2022/01/On-8th-November-2016-with-the-announcement-from-Government-of-India.png)
Q. On 8th November 2016, with the announcement from Government of India, all the ₹500 and ₹1,000 banknotes of the Mahatma Gandhi series have ceased to be a legal tender. The givemment also announced the issuance of new ₹500 and ₹2,000 banknotes in exchange for the demonetised banknotes. Identify the concept being described in the above lines.
A. Globalisation
B. Liberalisation
C. Demonetisation
D. Privatisation
Answer: Demonetisation