Vol. 3, Issue 1, Part K (2017)

Abstract
The current demonetization policy of Government of India (GOI) is the buzzing topic in every nook and corner of India. Demonetization is done for the overall economic development for India. There are various advantages and disadvantages of the demonetization drive. Recently the Indian government decided to demonetize the biggest denomination notes i.e. 500-1000 Rupees notes, this step has been declared as a master stroke for the Indian economy There are multiple reasons why a country demonetizes its currency i.e. to check the inflation, to curb the corruption and to promote the cashless transactions. This paper elucidates the impact of such a move on the economy, its positive and negative effect on our economy.