Demonetization and its impact on Indian economy with special reference to Indian banking sector

نویسندگان

چکیده

Demonetization refers to cancellation of legal tender status currency in circulation. Anticipating positive effects on the economy, nations often adopt demonetization policy. Government India adopted policy November 8, 2016. Prime Minister Narendra Modi announced this while addressing nation his Mann Ki Baat speech Under policy, high denomination Indian notes Rs.500 and Rs.1000 were declared be no longer use as which means that these not acceptable for transaction. After this, RBI release redesigned new Rs.2000 released 10, 2016 by continue circulation since was fight against various problems such corruption, black or parallel terror funding, fake currency, money laundering hoarding, tax evasion etc. In paper, we are trying explore impacts banking economy how far is able curb above-mentioned problems.

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ژورنال

عنوان ژورنال: International journal of advanced academic studies

سال: 2022

ISSN: ['2706-8927', '2706-8919']

DOI: https://doi.org/10.33545/27068919.2022.v4.i3a.814