Option 3: November 2016 -> Demonetization was announced by Prime Minister Narendra Modi on November 8, 2016, at 8 PM. This initiative invalidated ₹500 and ₹1000 currency notes as legal tender, accounting for approximately 86% of the currency in circulation. The objective was to curb black money, counterfeit currency, corruption, and terrorism financing. Citizens were given time until December 30, 2016, to deposit or exchange the old notes at banks and post offices. -> correct