Goverment

Remonetisation in India- Meaning, Definition, Example

what is remonetisation meaning defination

So, every Indian must know what is demonetization by now. Some call it Notebandi (नोटबंदी ) and some call Vimudrikaram (विमुद्रीकरण). Demonetization is an act of striping a currency unit of its status as legal tender. In short, the demonetized currency will not be legal for the financial transactions in economic market activity.

Remonetisation (रीमोनेटायज़ेशन) or sometimes spelled as Remonetization is the reverse of it. There is a simple difference between them, they are simply opposite to each other. In remonetization, demonetized currency reinstate its legal tender back means remonetized currency will be legal to use in the market.

Opposition parties in India were against the demonetization, they were agitating to remonetize the 500 and 1000 rupees notes.

Example
Last year on 8th November 2017 Indian government demonetized 500 and 1000 rupees notes. If they reversed the decision and bring back the same old 500 and 1000 rupees back to market then we can call that 500 and 1000 rupees notes are remonetized.

I am not sure about this one. Now we have NEW 500 rupee note and there is news that new 1000 rupees notes also will be out soon. Can we say 500 rupee currency is remonetized in this case? I think NO.

Let us know your opinion? or any reference you find like that.

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