DEMONETIZATION: A REVIEW STUDY
Mr. Aditya Sharma
NOVEMBER 2016 when everyone is waiting for US President elections ,PM announced his Master Stroke corruption, counterfeit currency, terrorism and black money .Demonetization Is the process in which Monetary Authorities with the consent of Government replace old currency with new currency i.e. declares the currently running illegal to be tender. On 8th November 2016 at 8PM Indian Prime Minister Hon. Mr.Narendra Modi in his broadcast to the nation declared “ from Today 12PM onwards RS.500 and Rs.1000 (86% of Total Currency) not recognized as legal tender “ .As per RBI Balance Sheet Currency in Circulation is 16415 Billion which includes 86% currency old Rs.500 and Rs.1000 Notes . Every person was facing liquidity crunch But on the other hand he was with government move because Black Money, Counterfeit currency, Real estate Rate, Inflation are destroying country economy while corruption, smuggling and terrorism are effecting everyone life every day .Country Like India in which 80% population live in Rural area ,167 Million Not Having Bank account ,287 Million adults illiterate after reading the above data everyone can On that day several questions are coming in every Persons Mind .This research paper is very general in Nature like a book chapter of Demonetization focusing on History, advantages and also its impact on various sections of Economy, common Man, and Industry and Agricultural sector.
KEYWORDS: Demonetization, Inflation, liquidity crunch, exchange, currency printing