Explanation:

- Option 1: Tax administration measure

Demonetisation helps in improving tax compliance by encouraging people to disclose unaccounted income, which broadens the tax base.

- Option 2: Channelising savings into the formal financial system

By withdrawing old currency notes, demonetisation encourages people to deposit their money into banks, thus increasing the flow of savings into the formal financial system.

- Option 3: Development of less-cash economy

The initiative aims to reduce the reliance on cash transactions, promoting digital payments and a move towards a less-cash economy.

- Option 4: All of the above

This option encapsulates all the features mentioned: tax administration, formal channeling of savings, and a less-cash economy.

Correct Answer: Option 4 - All of the above