International Journal of Applied Research
Vol. 3, Issue 2, Part A (2017)
Demonetization at glance in Indian scenario: A conceptual study
Demonetization is the act of stripping a currency unit of its status as legal tender. Demonetization is necessary whenever there is a change of national currency. The old unit of currency must be retired and replaced with a new currency unit. The Indian government moved as well as decided on November 8, 2016 to demonetize the two notes with biggest denomination i.e. Rupees 500 and 1000 which are in combine recorded with 86% participation in the total cash supply chain of the country. Attempts have been made through this paper to get an insight about the demonetization, various issues involved, measures adopted by the government to overcome from the demonetization affect. This paper is based on descriptive design with the involvement of secondary data. It has been concluded that no doubt, most of the sector has its impact but all the issue mentioned in paper stand for very short period to short period only and in long term, Indian economy will emerge as one of the strongest economy in the world resulting from our government move of demonetization. Some suggestions have been recommended at the end of the study to smoother the way of demonetization and for treatment of issues resulting from demonetization.
How to cite this article:
Sunil. Demonetization at glance in Indian scenario: A conceptual study. International Journal of Applied Research. 2017; 3(2): 04-08.