As the world knows, Indian currency of 500 and 1000 denominations enjoyed their last legal tender on 8^th, November 2016. Known for his leadership qualities, the 66 years old renowned honourable Indian Prime Minister Narendra Modi announced this strong move at the strike of clock around 8 pm IST on 8^th, November. This move led to loss of 86% of Indian monetary base. India being obsessed with the menace of black money, terrorism, counterfeit and corruption, led the PM to take this action. This paper discusses about the ideas proposed by Anil Bokil of Arthakranti Pratishthan, the views and counterviews, its impact in different ways in different sectors, the possible positive outcomes, near term challenges and the plans of actions of Modi’s Government. A light of the possibilities and further steps that can be taken are also discussed. As every action has a positive and negative result, we hope for the best positive outcome for the betterment of the nation and its economy.

KEYWORDS: Indian currency, corruption, parallel economy, counterfeit currency.