What is demonatisation . When was it annouced and what is the impact of demonatisation on indian economy and much more. Explaining the point which leads to the impact of demonatisation.

2. Declaration
• On 8 November 2016, Prime Minister of
India Narendra Modi announced the
demonetization.
• All ₹500 and ₹1,000 banknotes of the
Mahatma Gandhi Series as legal tender

3. Impact of Demonetization
Advantage
Disadvantage

4. Black Money
ICICI Securities Primary Dealership the
government's plan to scrap ₹500 and ₹1,000
notes will uncover up to ₹4.6 lakh crore in black
money.

5. Digital Payment
Demonetization will likely result in people
adopting virtual wallets such as Paytm, Ola
Money etc.

6. Stop Terror
Fake Indian Currency Notes
(FICN) network will be dismantled
by the demonetization measures.

7. Economic slowdown
• The major industries like real
estate, infra, gold etc have been
affected and sales would come
down and that impacts the
growth of the economy.

8. Confusion and Tension