Q. When did India first demonetize high denomination currency notes?
Answer: January 12, 1946
Notes: India’s first demonetization took place on January 12, 1946, targeting ₹500, ₹1000, and ₹10,000 notes to curb black money and unaccounted wealth. It happened before independence under the RBI and was a pioneering currency reform measure in the country’s monetary history.