Who announced demonetization in India?

PM Modi had made the demonetisation announcement during a televised speech delivered at 8:15 pm on November 8, 2016, scrapping two of the highest valuing notes – accounting for 86 per cent of all currency notes in circulation in value – with immediate effect.

Who did demonetisation in 1978?

Morarji Desai’s
41 years ago, Morarji Desai’s govt also demonetised high value banknotes. On 16 January 1978, the Janata Party-led government demonetised Rs 1,000, Rs 5,000 and Rs 10,000 banknotes to weed out black money.

Who gave idea of demonetisation?

Anil Bokil
Anil Bokil is the man credited for providing the idea of demonetisation to PM Narendra Modi. Bokil is a mechanical engineer by profession and the founder of Pune-based think-tank Arthakranti.

Who was the governor of the Reserve Bank of India when demonstration was announced in 2016?

On 11 January 2013, Urjit Patel was appointed as Deputy Governor of RBI for a period of three years. He took over charge of the vital Monetary Policy Department, succeeding Subir Gokarn to the post. On 20 August 2016, he was appointed as the governor of Reserve Bank Of India(RBI) succeeding Raghuram Rajan.

Who announced demonetisation in 2016?

PM Modi
The RBI board meeting was held at 5:30pm in New Delhi on November 8, 2016, almost two and a half hours before PM Modi in an address to the nation announced the demonetisation decision on November 8, 2016.

When was first demonetisation in India?

12 January 1946
On 12 January 1946, High Denomination Bank Notes (Demonetisation) Ordinance 1946 was passed by the then Governor General of India, Field Marshal Archibald Wavell, 1st Earl Wavell ceasing 500paise, 1000paise, and 10,000 paise to be legal tender.

When was second demonetisation in India?

The second ordinance was the High Denomination Bank Notes (Demonetisation) Ordinance. It demonetised banknotes of the denominations of Rs 500 and above with effect from January 13, 1946. Some of the parallels with the demonetisation in 2016 are uncanny.

Who is the current government of RBI?

Shri Shaktikanta Das
Shri Shaktikanta Das, IAS Retd., former Secretary, Department of Revenue and Department of Economic Affairs, Ministry of Finance, Government of India assumed charge as the 25th Governor of the Reserve Bank of India effective December 12, 2018.