demonetization in India

1. Demonetisation
BY- Utsav A. Shah

2. Monetization
Monetization is the process of converting or
establishing something into legal tender. While it
usually refers to the coining of currency or the
printing of banknotes by central banks.
•who issue currency notes in india ?
1. Indian gov (1 ₹)
2. R.B.I.(2,5,10,50,100,200,500,2000 ₹)

3.  Demonetization is the act of stripping a currency
unit of its status as legal tender. It occurs
whenever there is a change of national currency:
The current form or forms of money is pulled
from circulation and retired, often to be replaced
with new notes or coins.

4. Abolish Fake currency
Reduce Black money
Stop Corruption
Stop Terrorism
Limiting the use of money power in
election
Control inflation

5.  On 8 November 2016,Prime Minister of
India Narendra Modi announced the
demonetisation in an unscheduled live televised
address to the nation at 8:15 pm. In the
announcement, Modi declared circulation of all
₹500 and ₹1,000 banknotes invalid effective from
the midnight of the same day, and announced the
issuance of new ₹500 and ₹2,000 banknotes.

6.  Banking
 Human trafficking
 Hawala
 Digital transaction
 Tax return
 Slow down
terrorism
Positive effect

7.  Cash shortage
 Stock market decline
 Agriculture
 Business
 GDP growth
 Job losses
Negetive effect

8.  Gold purchases
 Donations in temples
 Multiple bank transactions
 Backdated accounting
 Petrol pumps, Gas stations, Hospitals

9.  As per hindustan times(30/8/2017)
RBI says 99% of banned Rs 500, Rs 1000 notes
returned after PM Modi’s surprise moveIn its
annual report for 2016-17, the RBI said out of 632.6
crore pieces of Rs 1,000 currency notes in
circulation, 8.9 crore have not been returned .
Continue……
Continue……

11. Expert review
 Former Senior Vice-President and Chief Economist of
the World Bank, Kaushik Basu, called it a 'major
mistake' and said that the 'damage' is likely to be
much greater than any possible benefits.
 Pronab Sen, former Chief Statistician and Planning
Commission of India member, called it a "hollow
move" .
 Raghuram Rajan said that if a decision such as this
turns out exposed — of not having the right effects on
the economy, “as a country, you would want to ask
what were the inputs that went into that decision”.

12. Thank you