A RISK OF DEMONITISATION AND ITS IMPACT ON VARIOUS SECTORS

Mr Sonal Ashok Jaiswal, Dr.Kishor N. Jagtap

Abstract


On 08/11/2016, the Indian government has made a prominent decision regarding the note ban. The central government was a prudent, thought-provoking and wellorganized step, and would eliminate all the existing black money. In the important decision announced by the Government of India, the notes of 500 rupees and one thousand rupees will not be valid tenders from midnight, 8 November 2016. The RBI will issue a new sample of two thousand rupees and a counterfeit 500 rupees will be circulated from November 10, 2016. Notes of one hundred, fifty, twenty, ten, five, two and one rupees are legal tender, and this decision will not have any effect. The Prime Minister has tried to bring this to the notice of corruption, black money and fake notes. This decision is expected to liberate the formal financial system and black money will be broken.


In this, we highlight the various economic changes and the potential consequences of this decision on various institutions. This study will help us to understand the positive and negative consequences of the note ban decision taken by the Indian government. This study is based solely on secondary data, which is collected from newspapers, magazines, internet websites, some related books related to the subject etc.


Keywords


Anonymous, Cashless Behavior, Credit, Tax Theft, demonetization

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