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  3. 12th Class
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  5. Money And Banking

12th Class Economics Money And Banking Question Bank Case Based MCQs - Money and Banking

  • question_answer
    Government removed the legal tender status of Rs. 500 and Rs. 1,000 currency notes during the demonetisation. These currency notes are also known as …….. .

    A) Limited Legal Tender

    B) Unlimited Legal Tender

    C) Commodity Money

    D) None of these

    Correct Answer: B

    Solution :

    Currency notes in India are considered as unlimited legal tender as one can make a payment of any amount with these notes without any limit.


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