In which year was demonetisation of high denomination currency notes first carried out in India as a measure against unaccounted money?

Introduction / Context:
This question deals with the history of demonetisation in India. Demonetisation means the withdrawal of the legal tender status of certain currency notes. While many people remember the twenty sixteen demonetisation of five hundred and thousand rupee notes, there were earlier episodes as well. The first demonetisation in India took place during the last years of British rule and targeted very high denomination notes in order to curb black money and tax evasion.

Given Data / Assumptions:
- The subject is demonetisation of high denomination currency notes.
- The country is India.
- The question asks about the first year in which such demonetisation was carried out.
- The options include the years 1946, 1962, 1978, 1999 and 2016.

Concept / Approach:
The central concept is to distinguish the first historical instance of demonetisation from later episodes. The first demonetisation occurred in January 1946, when notes of five hundred, one thousand and ten thousand rupees were withdrawn by the colonial government. Later, in 1978, another demonetisation targeted high value notes. The step in 2016 focused on widely used denominations of five hundred and one thousand. Therefore, the year 1946 must be recognised as the first demonetisation year in Indian history.

Step-by-Step Solution:
Step 1: Recall that demonetisation in 2016 was not the first such step, even though it is very well known.Step 2: Remember that in 1978 the government again demonetised high denomination notes, but this was after independence.Step 3: Trace further back and identify 1946 as the year when the colonial administration first demonetised very high value notes to tackle black money.Step 4: Compare this knowledge with the options, noting that 1946 is the earliest relevant year listed.Step 5: Select 1946 as the correct answer and treat other years as later demonetisation or unrelated events.

Verification / Alternative check:
To verify, you can remember a simple sequence 1946 for the first demonetisation under British rule, 1978 for a second demonetisation under the Janata government, and 2016 for the recent one under a later government. The years 1962 and 1999 are not associated with major nationwide demonetisation measures in standard exam references. This sequence makes it clear that 1946 is the first instance.

Why Other Options Are Wrong:
- 1978: This year saw an important demonetisation of high denomination notes, but it was the second major instance, not the first.
- 1999: No nationwide demonetisation of the type described in the question took place in this year.
- 1962: This year is linked more with the Sino Indian war than with currency demonetisation.
- 2016: This is the most recent and famous demonetisation episode but clearly not the first in Indian history.

Common Pitfalls:
Because the twenty sixteen demonetisation affected the daily life of many people, students sometimes forget that earlier demonetisations also took place. Others remember the 1978 event but do not realise that an even earlier step occurred during British rule. Building a small mental time line of all three major episodes helps you avoid this confusion in exams.

Final Answer:
The first demonetisation of high denomination currency notes in India took place in the year 1946.