On November 8th, 2016 the Government of India announced that Rs. 500 and Rs. 1000 banknotes would no longer be legal tender. This process of withdrawing currency from circulation is known as demonetization. India has previously demonetized its currency in 1946 and 1978. The demonetization was aimed at targeting black money, fake currency, corruption, and terrorist funding. While it may cause short-term economic slowdown and cash shortages, the long-term goals are a reduction in black money, increased digitization and move towards a cashless economy with more financial transparency and tax compliance.
Demonetization is the act of stripping a currency unit of its legal tender status. In India, PM Modi announced on November 8, 2016 that Rs. 500 and Rs. 1000 notes would no longer be legal tender, aiming to tackle black money, corruption, and terror financing. While demonetization may curb black money and corruption in the long run, it has led to short-term economic slowdown and significant inconvenience to the public due to cash shortages and long lines at banks. Whether the costs of demonetization outweigh its benefits remains to be seen.
This document is a term paper submitted by Raj Kapoor Bhardwaj for the degree of B.com (Hons) at Rajdhani College, University of Delhi under the supervision of Miss Jyoti Kasana. It discusses the impact of the Indian government's 2016 demonetization of Rs. 500 and Rs. 1000 banknotes. In the acknowledgment and declaration sections, Bhardwaj thanks his supervisor Miss Kasana and declares that the paper represents his original work. The paper then discusses the meaning, background, purpose, operational guidelines, impacts in the short and long term, effects on the economy and key sectors, and overall impact of demonetization in India.
An whole description about demonetisation in india .Its rules and regulations.Its positive impact and negative impact.When it was started and with which purpose.How people reacted.How the world reacted
What happened on 8th Nov, 2016 and all of its positive side are demonstrated via "DEMONETISATION".
This PRESENTATION gives a brief idea about effects on black money, corruption, terror funding, fake currency and on others system.
This document discusses the impacts of India's 2016 demonetization policy, which removed Rs 500 and Rs 1000 banknotes from circulation. It provides two case studies showing differing impacts: Amul dairy cooperative adapted well to cashless payments, with no employment impacts, while textiles company Raymond saw a 30% sales drop and may lay off 10,000 workers due to its cash-reliant industry. It also discusses inflation falling due to reduced spending, mixed effects on GDP, financial markets seeing initial drops, and economists viewing long-term benefits despite short-term disruptions.
On November 8th, 2016 the Indian government demonetized Rs. 500 and Rs. 1000 currency notes to curb black money. This created a shortage of cash that slowed economic growth and impacted cash dependent sectors like agriculture. However, it also increased bank deposits and pushed people towards cashless transactions. Overall, demonetization aimed to eliminate black money but faced short term challenges that slowed the economy due to the cash shortage and lack of alternative denominations.
This document discusses India's demonetization of 500 and 1000 rupee banknotes in November 2016. It provides background on demonetization, the rationale given by Prime Minister Modi for India's action including fighting corruption and black money. The short-term impacts included cash shortages, economic disruption and job losses. However, proponents argue it will boost formal economic activity and tax collection over the long run. The document also reviews demonetization efforts in other countries and debates the policy's costs and benefits.
On November 8th, 2016 the Government of India announced that Rs. 500 and Rs. 1000 banknotes would no longer be legal tender. This process of withdrawing currency from circulation is known as demonetization. India has previously demonetized its currency in 1946 and 1978. The demonetization was aimed at targeting black money, fake currency, corruption, and terrorist funding. While it may cause short-term economic slowdown and cash shortages, the long-term goals are a reduction in black money, increased digitization and move towards a cashless economy with more financial transparency and tax compliance.
Demonetization is the act of stripping a currency unit of its legal tender status. In India, PM Modi announced on November 8, 2016 that Rs. 500 and Rs. 1000 notes would no longer be legal tender, aiming to tackle black money, corruption, and terror financing. While demonetization may curb black money and corruption in the long run, it has led to short-term economic slowdown and significant inconvenience to the public due to cash shortages and long lines at banks. Whether the costs of demonetization outweigh its benefits remains to be seen.
This document is a term paper submitted by Raj Kapoor Bhardwaj for the degree of B.com (Hons) at Rajdhani College, University of Delhi under the supervision of Miss Jyoti Kasana. It discusses the impact of the Indian government's 2016 demonetization of Rs. 500 and Rs. 1000 banknotes. In the acknowledgment and declaration sections, Bhardwaj thanks his supervisor Miss Kasana and declares that the paper represents his original work. The paper then discusses the meaning, background, purpose, operational guidelines, impacts in the short and long term, effects on the economy and key sectors, and overall impact of demonetization in India.
An whole description about demonetisation in india .Its rules and regulations.Its positive impact and negative impact.When it was started and with which purpose.How people reacted.How the world reacted
What happened on 8th Nov, 2016 and all of its positive side are demonstrated via "DEMONETISATION".
This PRESENTATION gives a brief idea about effects on black money, corruption, terror funding, fake currency and on others system.
This document discusses the impacts of India's 2016 demonetization policy, which removed Rs 500 and Rs 1000 banknotes from circulation. It provides two case studies showing differing impacts: Amul dairy cooperative adapted well to cashless payments, with no employment impacts, while textiles company Raymond saw a 30% sales drop and may lay off 10,000 workers due to its cash-reliant industry. It also discusses inflation falling due to reduced spending, mixed effects on GDP, financial markets seeing initial drops, and economists viewing long-term benefits despite short-term disruptions.
On November 8th, 2016 the Indian government demonetized Rs. 500 and Rs. 1000 currency notes to curb black money. This created a shortage of cash that slowed economic growth and impacted cash dependent sectors like agriculture. However, it also increased bank deposits and pushed people towards cashless transactions. Overall, demonetization aimed to eliminate black money but faced short term challenges that slowed the economy due to the cash shortage and lack of alternative denominations.
This document discusses India's demonetization of 500 and 1000 rupee banknotes in November 2016. It provides background on demonetization, the rationale given by Prime Minister Modi for India's action including fighting corruption and black money. The short-term impacts included cash shortages, economic disruption and job losses. However, proponents argue it will boost formal economic activity and tax collection over the long run. The document also reviews demonetization efforts in other countries and debates the policy's costs and benefits.
This document discusses India's transition to a cashless society through currency demonetization. It outlines what a cashless society entails, the major drawbacks of cash, and challenges to implementing a cashless payment system. It also details how demonetization has boosted cashless payments in India by necessity, with companies like Paytm seeing major increases in digital transactions. However, moving to a fully cashless economy still faces constraints like lack of banking access, internet connectivity issues, and cost barriers to digital payment infrastructure for merchants.
The document discusses India's demonetization of 500- and 1000-rupee banknotes in November 2016. It aimed to curb black money, terrorism, and tax evasion by removing these high-value notes from circulation and requiring people to deposit old notes or exchange them for new notes. While demonetization may help achieve these goals over time, it immediately put the country in a state of disruption as people faced long lines to access their money from banks and ATMs. Certain sectors like real estate saw transactions slow down significantly in the short-term due to the cash changes.
Demonetization is the act of removing legal tender status of a currency. India demonetized Rs. 500 and Rs. 1000 banknotes in 2016 to curb black money, corruption, and counterfeit currency. While it provided advantages like reducing illegal activity and increasing tax collection, it also had disadvantages such as currency destruction costs, public inconvenience, and slowing down the economy in the short term. The goal of demonetization is to make India's economy cleaner and move it towards greater digitization.
The document discusses India's demonetization of 500 and 1000 rupee banknotes in November 2016. It provides background on the meaning of demonetization, India's history with it in 1946 and 1978. It then outlines the key aspects of the 2016 policy including exchanging old notes for new ones, deposit procedures, tax implications for deposited cash, initial reactions from support and criticism, effects like cash shortages and increased e-payments, and evasion attempts through gold, salaries, and donations. In conclusion, it argues the long-term benefits of reducing corruption and black money outweigh short-term costs, and the government must ensure a smooth transition to the new currency.
This presentation is just designed in public interest and also to make the term DEMONETIZATION lucid to understand. Dont forget to hit like button before you proceed to download. And stay tuned to my channel so that I can serve you better by providing you ppt on current topics............
Demonetization negatively impacted many vendors in India. Due to the removal of Rs. 500 and Rs. 1000 notes, 50% of vendors did not have bank accounts and 30% only had accounts in their home towns, making exchanging the old notes difficult. While some opened accounts through a government program, 80% of vendors preferred saving cash at home rather than depositing in banks. A majority (50-85%) of vendors faced difficulties withdrawing money from ATMs and using digital payments. The demonetization motivated increased cashless transactions long-term but created significant problems for many unorganized sector workers in the short-term.
Demonetisation and its impact on indian economySupriya Sharma
Demonetization in India involved removing Rs. 500 and Rs. 1000 currency notes from circulation in November 2016. This was aimed at curbing black money, corruption, terrorism funding, and moving toward a cashless economy. While nearly all demonetized notes were deposited, indicating the failure to remove significant black money, demonetization did increase digitization of the economy. However, it also caused short-term problems like bank lines and cash shortages. Overall, the long-term benefits of a less cash-dependent, more transparent economy are believed to outweigh the short-term costs.
On 8 November 2016, the Government of India announced the demonetization of all ₹500 (US$7.80) and ₹1,000 (US$16) banknotes of the Mahatma Gandhi Series.
Prime Minister Narendra Modi announced that Rs 500 and Rs 1000 banknotes would no longer be legal tender as of midnight. This was an act of demonetization in India aimed at combating black money and corruption. Demonetization involves removing a currency's status as legal tender and replacing it with a new currency. Previous examples of demonetization in other countries are discussed.
The document discusses India's demonetization of 2016 by Prime Minister Modi that banned Rs. 500 and Rs. 1000 currency notes. It provides definitions of demonetization and remonetization. It discusses the history of demonetization globally and in India in 1946, 1978 and 2016. The reasons for demonetization included combating corruption, black money and counterfeiting. The impacts included effects on the parallel economy, money supply, demand, prices and GDP as well as increased online transactions. Advantages included attacking black money while disadvantages included bank rush and short-term issues.
- Demonetization of Rs. 500 and Rs. 1000 currency notes has significantly impacted retailers in India. Small retailers relying on cash transactions have seen a major slump in sales, while organized retailers have faced a drop in store footfalls and sales.
- Online retailers have also seen a dip in sales of around 50% due to a decrease in cash-on-delivery orders in the aftermath of demonetization.
- In the long run, as customers increasingly adopt digital payments, retailers expect sales and footfalls to return to normal levels. Demonetization is aimed at curbing black money, corruption, and use of illicit funds to sponsor terrorism.
Demonatisation effect on banking sectorShubham Matta
the effects of demonetisation's effect in banking sector
this is based on the demonetisation happened in india in 2016
we have included the facts and figures and also have told everything we have researched
This document discusses India's 2016 demonetization initiative to remove high-value currency notes from circulation. It provides 10 key impacts: 1) Black money and corruption will be temporarily reduced; 2) Elections may be impacted; 3) Counterfeiting will be significantly reduced; 4) It will incentivize moving to a cashless society; 5) Gold and silver buying will be temporarily reduced; 6) Real estate prices may come down temporarily; 7) Markets may see short-term downturns; 8) Overseas Indians holding rupees will be impacted; 9) It will help bring banking access to all; and 10) Consumption and short-term economic growth may be negatively impacted. The author
Definition of Demonetisation, introduction, process to exchange demonetized currency notes, exceptions for withdrawal, reasons behind demonetisation. why demonetisation become masterstroke by PM Modi, evasion attempts after demonetisation, positive and negative effects, results and conclusion on Demonetisation.
This document discusses India's goal of becoming a cashless society through its demonetization move. It defines a cashless economy as one where transactions are done digitally rather than with physical currency. The benefits of a cashless economy include increased tax revenue, reduced crime rates, and accelerated economic growth. However, India faces obstacles to becoming fully cashless as many citizens do not have bank accounts or reliable digital access. Potential disadvantages of a cashless system could include increased cybercrime and a wider digital divide between those who can access financial technology and those who cannot.
As ordinary Indians, what can we contribute to make our country more cash efficient? We need to understand the cashless ecosystem first. Here is an attempt to understand the cashless options and how to go cashless.
Presentation on Demonetization in India Priyanshu7078
this file is uploaded by Pramod Kumar from MIMT
this file is made on the situations of the demonetization. in this file describing in details of related to the demonetization
The document discusses the impacts of India's 2016 demonetization policy which removed Rs 500 and Rs 1000 banknotes from circulation. It describes the political, social, economic, and environmental contexts and consequences of the policy change. Politically, it divided opinions between supporters and opposition parties. Socially, it disrupted common activities like marriages and healthcare and caused hardships. Economically, it aimed to reduce black money but also impacted businesses and salaries paid in cash. Environmentally, replacing the currency notes required cutting many trees. Overall, the analysis questions whether the demonetization policy was well-designed or the right decision given its significant negative impacts.
A SHORT AND GENERAL PPT COVERING ASPECTS LIKE REACTIONS OF PEOPLE,IMPACTS OF DEMONETISATION:POSITIVE AND NEGATIVE,EFFECTS ON 3 SECTORS AND EFFECT ON THE INDIAN ECONOMY. ALL THE BEST!!!!!
This document discusses India's transition to a cashless society through currency demonetization. It outlines what a cashless society entails, the major drawbacks of cash, and challenges to implementing a cashless payment system. It also details how demonetization has boosted cashless payments in India by necessity, with companies like Paytm seeing major increases in digital transactions. However, moving to a fully cashless economy still faces constraints like lack of banking access, internet connectivity issues, and cost barriers to digital payment infrastructure for merchants.
The document discusses India's demonetization of 500- and 1000-rupee banknotes in November 2016. It aimed to curb black money, terrorism, and tax evasion by removing these high-value notes from circulation and requiring people to deposit old notes or exchange them for new notes. While demonetization may help achieve these goals over time, it immediately put the country in a state of disruption as people faced long lines to access their money from banks and ATMs. Certain sectors like real estate saw transactions slow down significantly in the short-term due to the cash changes.
Demonetization is the act of removing legal tender status of a currency. India demonetized Rs. 500 and Rs. 1000 banknotes in 2016 to curb black money, corruption, and counterfeit currency. While it provided advantages like reducing illegal activity and increasing tax collection, it also had disadvantages such as currency destruction costs, public inconvenience, and slowing down the economy in the short term. The goal of demonetization is to make India's economy cleaner and move it towards greater digitization.
The document discusses India's demonetization of 500 and 1000 rupee banknotes in November 2016. It provides background on the meaning of demonetization, India's history with it in 1946 and 1978. It then outlines the key aspects of the 2016 policy including exchanging old notes for new ones, deposit procedures, tax implications for deposited cash, initial reactions from support and criticism, effects like cash shortages and increased e-payments, and evasion attempts through gold, salaries, and donations. In conclusion, it argues the long-term benefits of reducing corruption and black money outweigh short-term costs, and the government must ensure a smooth transition to the new currency.
This presentation is just designed in public interest and also to make the term DEMONETIZATION lucid to understand. Dont forget to hit like button before you proceed to download. And stay tuned to my channel so that I can serve you better by providing you ppt on current topics............
Demonetization negatively impacted many vendors in India. Due to the removal of Rs. 500 and Rs. 1000 notes, 50% of vendors did not have bank accounts and 30% only had accounts in their home towns, making exchanging the old notes difficult. While some opened accounts through a government program, 80% of vendors preferred saving cash at home rather than depositing in banks. A majority (50-85%) of vendors faced difficulties withdrawing money from ATMs and using digital payments. The demonetization motivated increased cashless transactions long-term but created significant problems for many unorganized sector workers in the short-term.
Demonetisation and its impact on indian economySupriya Sharma
Demonetization in India involved removing Rs. 500 and Rs. 1000 currency notes from circulation in November 2016. This was aimed at curbing black money, corruption, terrorism funding, and moving toward a cashless economy. While nearly all demonetized notes were deposited, indicating the failure to remove significant black money, demonetization did increase digitization of the economy. However, it also caused short-term problems like bank lines and cash shortages. Overall, the long-term benefits of a less cash-dependent, more transparent economy are believed to outweigh the short-term costs.
On 8 November 2016, the Government of India announced the demonetization of all ₹500 (US$7.80) and ₹1,000 (US$16) banknotes of the Mahatma Gandhi Series.
Prime Minister Narendra Modi announced that Rs 500 and Rs 1000 banknotes would no longer be legal tender as of midnight. This was an act of demonetization in India aimed at combating black money and corruption. Demonetization involves removing a currency's status as legal tender and replacing it with a new currency. Previous examples of demonetization in other countries are discussed.
The document discusses India's demonetization of 2016 by Prime Minister Modi that banned Rs. 500 and Rs. 1000 currency notes. It provides definitions of demonetization and remonetization. It discusses the history of demonetization globally and in India in 1946, 1978 and 2016. The reasons for demonetization included combating corruption, black money and counterfeiting. The impacts included effects on the parallel economy, money supply, demand, prices and GDP as well as increased online transactions. Advantages included attacking black money while disadvantages included bank rush and short-term issues.
- Demonetization of Rs. 500 and Rs. 1000 currency notes has significantly impacted retailers in India. Small retailers relying on cash transactions have seen a major slump in sales, while organized retailers have faced a drop in store footfalls and sales.
- Online retailers have also seen a dip in sales of around 50% due to a decrease in cash-on-delivery orders in the aftermath of demonetization.
- In the long run, as customers increasingly adopt digital payments, retailers expect sales and footfalls to return to normal levels. Demonetization is aimed at curbing black money, corruption, and use of illicit funds to sponsor terrorism.
Demonatisation effect on banking sectorShubham Matta
the effects of demonetisation's effect in banking sector
this is based on the demonetisation happened in india in 2016
we have included the facts and figures and also have told everything we have researched
This document discusses India's 2016 demonetization initiative to remove high-value currency notes from circulation. It provides 10 key impacts: 1) Black money and corruption will be temporarily reduced; 2) Elections may be impacted; 3) Counterfeiting will be significantly reduced; 4) It will incentivize moving to a cashless society; 5) Gold and silver buying will be temporarily reduced; 6) Real estate prices may come down temporarily; 7) Markets may see short-term downturns; 8) Overseas Indians holding rupees will be impacted; 9) It will help bring banking access to all; and 10) Consumption and short-term economic growth may be negatively impacted. The author
Definition of Demonetisation, introduction, process to exchange demonetized currency notes, exceptions for withdrawal, reasons behind demonetisation. why demonetisation become masterstroke by PM Modi, evasion attempts after demonetisation, positive and negative effects, results and conclusion on Demonetisation.
This document discusses India's goal of becoming a cashless society through its demonetization move. It defines a cashless economy as one where transactions are done digitally rather than with physical currency. The benefits of a cashless economy include increased tax revenue, reduced crime rates, and accelerated economic growth. However, India faces obstacles to becoming fully cashless as many citizens do not have bank accounts or reliable digital access. Potential disadvantages of a cashless system could include increased cybercrime and a wider digital divide between those who can access financial technology and those who cannot.
As ordinary Indians, what can we contribute to make our country more cash efficient? We need to understand the cashless ecosystem first. Here is an attempt to understand the cashless options and how to go cashless.
Presentation on Demonetization in India Priyanshu7078
this file is uploaded by Pramod Kumar from MIMT
this file is made on the situations of the demonetization. in this file describing in details of related to the demonetization
The document discusses the impacts of India's 2016 demonetization policy which removed Rs 500 and Rs 1000 banknotes from circulation. It describes the political, social, economic, and environmental contexts and consequences of the policy change. Politically, it divided opinions between supporters and opposition parties. Socially, it disrupted common activities like marriages and healthcare and caused hardships. Economically, it aimed to reduce black money but also impacted businesses and salaries paid in cash. Environmentally, replacing the currency notes required cutting many trees. Overall, the analysis questions whether the demonetization policy was well-designed or the right decision given its significant negative impacts.
A SHORT AND GENERAL PPT COVERING ASPECTS LIKE REACTIONS OF PEOPLE,IMPACTS OF DEMONETISATION:POSITIVE AND NEGATIVE,EFFECTS ON 3 SECTORS AND EFFECT ON THE INDIAN ECONOMY. ALL THE BEST!!!!!
Demonetization in India withdrew ₹500 and ₹1000 currency notes from circulation in November 2016 to curb black money, corruption, and terrorism financing. It led to short term negative impacts like cash short
Demonitisation and its effect on indian economyArijeet Dutta
Demonetization refers to the Indian government's decision on November 8, 2016 to remove Rs 500 and Rs 1000 banknotes from circulation. This was done to curb black money, corruption, and counterfeit currency. It has led to short-term hardship as over 85% of currency was removed overnight. However, it is expected to have long-term positive impacts by reducing black money, corruption, and use of fake currency to fund illegal activities. While some sectors face liquidity issues in the short-run, in the long-run it may lead to greater financial inclusion, reduced inflation, lower interest rates, and increased tax revenues as more money enters the formal economy. Economists believe that after initial disruptions, demon
Demonetisation - Indian 500 and 1000 rupee note banBhavesh Singh
THIS POWERPOINT PRESENTATION ON THE TOPIC Demonetisation WILL PROVIDE YOU ALL A BASIC IDEA AND CONCEPT ABOUT THE TOPIC. THIS PRESENTATION PROVIDES YOU A INFORMATIVE AND PICTORIAL VIEW OF THE TOPIC.
ENJOY!
MADE BY - BHAVESH
Demonetization : The Real Effects, Flashback #DeMo 2016, Reasons for Demonetization, Percentage share of denominations before Demonetization, Purpose/Need for Demonetization, Pros & Cons of Demonetization, Benefits of Demonetization (Direct & Indirect), Impact of Demonetization (Short & Long Term), Effect of Demonetization on Indian Economy, Hidden Facts, Reaction on Social Media, Survey @ Local Circle, Impact on Economy – Sector wise, Through the Glasses of Pessimism, Reality Check (example of effect of demonetization), Conclusion.
The document discusses demonetization in India. It defines demonetization as when a country's currency is no longer legal tender. In 2016, India demonetized its 500- and 1000-rupee notes to curb black money. This was not the first time India demonetized - it also did so in 1946 and 1978. The goals of demonetization were to counter black money, counterfeiting, and terrorist financing, while formalizing the economy and reducing cash. However, demonetization also had disadvantages like economic slowdown and problems for citizens and low-income groups.
Modi's decision to demonetize Rs. 500 and Rs. 1000 banknotes aimed to tackle black money, corruption, and the cash-based economy. It had both short-term negative impacts like cash shortages and long-term potential benefits like increased tax revenues and use of digital payments. While some praised the move for curbing crimes like human trafficking, others criticized long bank lines that led to deaths and difficulties for farmers and small businesses dependent on cash transactions. Overall assessments of demonetization's impacts are mixed.
The document discusses the Indian government's decision to demonetize Rs. 500 and Rs. 1000 currency notes. It provides background on the increase in fake currency and black money fueling corruption. The government aims to curb these issues by removing the higher denomination notes from circulation. While this creates short-term hardship, the long-term goals are to bring transparency, reduce corruption, and benefit ordinary citizens and the economy. The impacts on various sectors and pros and cons are debated.
The document provides background information on India's 2016 demonetization of 500 and 1000 rupee banknotes. It discusses the economic and political context for the move, details of the announcement including exchange procedures, allegations of prior information leaks, and impacts on the population.
The document discusses the history and rationale behind demonetization and the move towards a cashless economy in India. It notes that high-value banknotes like Rs. 500 and Rs. 1000 had increased disproportionately compared to economic growth, and were being used for illicit purposes like money laundering and tax evasion. Demonetization aimed to curb the circulation of such notes and black money. While it had short-term costs, benefits included reducing fake currency, terror funding and inflation. The government also aims to promote digital and cashless transactions through initiatives like Digital India, Aadhaar and the Unified Payments Interface to improve governance and service delivery.
Demonetization has both positive and negative impacts that differ depending on perspective. Positively, it aims to curb black money, fake currency, terrorism, and corruption. However, critics argue it was poorly planned and implemented, causing significant short-term hardship by limiting cash and slowing the economy as people and businesses adapted. In the long run, supporters believe demonetization will formalize the economy and boost tax revenue, outweighing short-term costs, while critics doubt its ability to achieve goals like reducing corruption.
demonetization : impact on hawkers and vendorsTrishala Gautam
his is a presentation on impact of demonetization on hawkers and vendors. basically it is based on demonetization done on 8th nov 2016 by Indian PM Narndra madi...
it tells what was the impact of demonetization on hawkers and vendors and whether they were able to cover up or not at that time.
its a primary study
and sample size is low coz of limited time slot...
The document discusses the impacts of India's 2016 demonetization policy which removed Rs 500 and Rs 1000 banknotes from circulation. It led to job losses as cash-dependent industries were impacted. GDP growth fell from 8.01% to 7.11% due to less cash availability. While 99% of banned notes were deposited in banks, the economy paid a high cost through lost growth of 1.5% of GDP. Challenges remain in reducing corruption and moving to a less cash-dependent digital economy.
Demonetization is the act of stripping a currency unit of its status as legal tender. In India, demonetization was announced in November 2016 when ₹500 and ₹1000 banknotes were withdrawn as legal tender. The objectives were to curb corruption, counterfeiting, terrorist financing, and discourage a cash economy. While demonetization provided a boost to digital payments and tax revenues in the long run, it also had short term negative impacts like cash shortages, economic slowdown, job losses, and hardship for common citizens and businesses. Banks and the government faced challenges in replenishing cash and managing the transition to a less-cash economy.
This article is about the 2016 decision to demonetise 500- and 1000-rupee banknotes. It is not to be confused with The High Denomination Bank Notes (Demonetisation) Act, 1978.
The document provides an introduction and overview of demonetization in India. It discusses the history of demonetization in India, including instances in 1946, 1978, and most recently in 2016 when the government demonetized Rs. 500 and Rs. 1000 currency notes. It outlines the objectives and relevance of studying the impact of demonetization on the Indian economy. The scope of the study includes analyzing short to medium term effects on various sectors such as agriculture, automobiles, real estate, aviation, travel, banking, consumer durables, and healthcare. It concludes with a brief discussion of reviewing related literature.
India is facing demonetization problem then what is affect on development of human life. Main thing What is contribution's our.
It is not first time our country is facing demonetization probele.But important thing we should face this problem with a unity.
This document summarizes different art forms found in India, including:
- Mural paintings found in Kerala depicting mythology and legends.
- Pahari paintings from Himachal Pradesh depicting the Himalayan landscape.
- Madhubani paintings traditionally created by women in Bihar on walls and cloth with themes of gods and nature.
- Warli folk paintings from Maharashtra used to transmit stories in tribal villages without writing.
- Mysore paintings known for their elegance and attention to detail depicting Hindu gods and mythology.
The document contains 5 multiple choice questions about various sports and games. It asks which is the oldest game in the world (polo), the national game of the USA (baseball), who said the quote "Play the game with the spirit of game" (Pt. Jawaharlal Nehru), how many players are on a basketball team (five), and what sport is known as toxophily (archery).
The document provides answers to 5 questions: 1) Vitamin D helps prevent rickets. 2) Mercury is used in thermometers to register minimum temperature. 3) The sky appears black to astronauts in space. 4) Sir Isaac Newton said "If I have seen further, it is by standing on the shoulders of giants." 5) The atomic number of oxygen is 8.
The document provides answers to 5 questions: 1) The original name given to Mahabharata was Jaya. 2) The God of Agriculture in Roman Mythology is Saturn. 3) The Bhangra dance is associated with the state of Punjab in India. 4) The birth place of Jesus Christ is Bethlehem. 5) The founder of Advaita philosophy is Shankaracharya.
The document contains 5 multiple choice questions about Indian history and culture, including asking who said "Give me blood and I will give you freedom" (Netaji Subash Chandra Bose), who was the last Governor General of India (C Rajagopalachari), where the first Indian National Congress session was held (Mumbai), how many stanzas are in the Indian National Anthem (five), and when Dr. Vishveshwarayya's birthday is celebrated (September 15).
The document provides answers to trivia questions about Indian cinema awards and history. It states that Amitabh Bachchan won the first Best Actor Filmfare Award. It identifies Mallika Sherawat as the stage name of Reema Lamba. And it notes that Mother India was the first Indian movie submitted to the Oscars, while Bhanu Athaiya was the first Indian person to win an Oscar award, which was in 1954 when the Filmfare Awards first started.
The document provides brief answers to 5 questions: 1) Rabindranath Tagore won the Nobel Prize in 1912. 2) "Bonafide" means in good faith. 3) Purandaradasa is called the father of Karnatic classical music. 4) The quote "A thing of beauty is joy forever" is from John Keats. 5) The highest national award given to the best book in India each year is the Jnanapitha Award.
This document provides an introduction to something. It begins with a welcome message and then states that it will provide an introduction to the topic. The document does not contain enough information to summarize in more detail within 3 sentences.
plan to re-construction of old company "LML freedom "Navaneeth Shetty
LML was incorporated in 1972 and engaged in manufacturing synthetic yarn machines. In 1984, it entered a technical collaboration with Piaggio of Italy to produce scooters. In 1993, LML launched the Select scooter which was a success. The partnership with Piaggio ended in 1999 after which LML continued producing the Star scooter and Trendy motorcycles. More recently, LML has launched electric bikes like the Freedom 125 and solar-powered electric bikes to expand its product lineup. It aims to increase production and sales through initiatives like operating under Make in India and promoting environmental friendliness.
The document outlines the assets, liabilities, and projected profits of a pet shop business over 5 years. It details the capital investment of $3 million and total assets of $5 million. It also provides a breakdown of expenses like food, maintenance, medicine, salaries, and insurance. Finally, it projects monthly and yearly profits based on sales of 35 to 60 pets per month, estimating profits will range from $780000 to $1680000 per year as pet sales increase.
Earthquakes occur due to the buildup and sudden release of energy along fault lines in the Earth's crust. When pressure becomes too great, the plates jerk past one another causing violent shaking at the epicenter and releasing seismic waves that spread outwards. The three main types of faults are normal, reverse, and strike-slip, which control how the plates move during an earthquake. Understanding earthquake hazards and being prepared can help reduce risks to safety when they occur.
Food safety, prepare for the unexpected - So what can be done in order to be ready to address food safety, food Consumers, food producers and manufacturers, food transporters, food businesses, food retailers can ...
Jennifer Schaus and Associates hosts a complimentary webinar series on The FAR in 2024. Join the webinars on Wednesdays and Fridays at noon, eastern.
Recordings are on YouTube and the company website.
https://www.youtube.com/@jenniferschaus/videos
Monitoring Health for the SDGs - Global Health Statistics 2024 - WHOChristina Parmionova
The 2024 World Health Statistics edition reviews more than 50 health-related indicators from the Sustainable Development Goals and WHO’s Thirteenth General Programme of Work. It also highlights the findings from the Global health estimates 2021, notably the impact of the COVID-19 pandemic on life expectancy and healthy life expectancy.
Jennifer Schaus and Associates hosts a complimentary webinar series on The FAR in 2024. Join the webinars on Wednesdays and Fridays at noon, eastern.
Recordings are on YouTube and the company website.
https://www.youtube.com/@jenniferschaus/videos
About Potato, The scientific name of the plant is Solanum tuberosum (L).Christina Parmionova
The potato is a starchy root vegetable native to the Americas that is consumed as a staple food in many parts of the world. Potatoes are tubers of the plant Solanum tuberosum, a perennial in the nightshade family Solanaceae. Wild potato species can be found from the southern United States to southern Chile
Synopsis (short abstract) In December 2023, the UN General Assembly proclaimed 30 May as the International Day of Potato.
Preliminary findings _OECD field visits to ten regions in the TSI EU mining r...OECDregions
Preliminary findings from OECD field visits for the project: Enhancing EU Mining Regional Ecosystems to Support the Green Transition and Secure Mineral Raw Materials Supply.
Combined Illegal, Unregulated and Unreported (IUU) Vessel List.Christina Parmionova
The best available, up-to-date information on all fishing and related vessels that appear on the illegal, unregulated, and unreported (IUU) fishing vessel lists published by Regional Fisheries Management Organisations (RFMOs) and related organisations. The aim of the site is to improve the effectiveness of the original IUU lists as a tool for a wide variety of stakeholders to better understand and combat illegal fishing and broader fisheries crime.
To date, the following regional organisations maintain or share lists of vessels that have been found to carry out or support IUU fishing within their own or adjacent convention areas and/or species of competence:
Commission for the Conservation of Antarctic Marine Living Resources (CCAMLR)
Commission for the Conservation of Southern Bluefin Tuna (CCSBT)
General Fisheries Commission for the Mediterranean (GFCM)
Inter-American Tropical Tuna Commission (IATTC)
International Commission for the Conservation of Atlantic Tunas (ICCAT)
Indian Ocean Tuna Commission (IOTC)
Northwest Atlantic Fisheries Organisation (NAFO)
North East Atlantic Fisheries Commission (NEAFC)
North Pacific Fisheries Commission (NPFC)
South East Atlantic Fisheries Organisation (SEAFO)
South Pacific Regional Fisheries Management Organisation (SPRFMO)
Southern Indian Ocean Fisheries Agreement (SIOFA)
Western and Central Pacific Fisheries Commission (WCPFC)
The Combined IUU Fishing Vessel List merges all these sources into one list that provides a single reference point to identify whether a vessel is currently IUU listed. Vessels that have been IUU listed in the past and subsequently delisted (for example because of a change in ownership, or because the vessel is no longer in service) are also retained on the site, so that the site contains a full historic record of IUU listed fishing vessels.
Unlike the IUU lists published on individual RFMO websites, which may update vessel details infrequently or not at all, the Combined IUU Fishing Vessel List is kept up to date with the best available information regarding changes to vessel identity, flag state, ownership, location, and operations.
Jennifer Schaus and Associates hosts a complimentary webinar series on The FAR in 2024. Join the webinars on Wednesdays and Fridays at noon, eastern.
Recordings are on YouTube and the company website.
https://www.youtube.com/@jenniferschaus/videos
Working with data is a challenge for many organizations. Nonprofits in particular may need to collect and analyze sensitive, incomplete, and/or biased historical data about people. In this talk, Dr. Cori Faklaris of UNC Charlotte provides an overview of current AI capabilities and weaknesses to consider when integrating current AI technologies into the data workflow. The talk is organized around three takeaways: (1) For better or sometimes worse, AI provides you with “infinite interns.” (2) Give people permission & guardrails to learn what works with these “interns” and what doesn’t. (3) Create a roadmap for adding in more AI to assist nonprofit work, along with strategies for bias mitigation.
2. DEMONETIZATION
• 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.
3. 2016 Indian banknote
Demonetization
• On 8 November 2016, the Government of
India announced the demonetisation of all ₹500
and ₹1000 banknotes of the Mahatma Gandhi
Series.
4. • Indian Prime Minister Narendra
Modi announced the demonetisation
in an unscheduled live televised
address at 20:00 Indian Standard
Time (IST) on 8 November.
• PM Modi declared that use of all ₹500
and ₹1000 banknotes of the Mahatma
Gandhi Series would be invalid past
midnight, and announced the issuance
of new ₹500 and ₹2000 banknotes of
the Mahatma Gandhi New Series in
exchange for the old banknotes.
• By the end of August 2017, 99% of the
banned currency had been deposited
in banks:
5. Demonetisation process
• The plan to demonetize the ₹500
and ₹1000 banknotes was initiated
between six and ten months before it
was announced
• Kept confidential, with only ten people
being completely aware of it.
• The Union cabinet was informed about
the plan on 8 November 2016 in a
meeting called by the Indian Prime
Minister Narendra Modi.
6. Exchange of old notes
• The RBI stipulated that the
demonetized notes could be
deposited with banks over a
period of fifty days until 30
December 2016.
• The limit for such exchange
was ₹4,000 per person from 8
to 13 November, was
increased to ₹4,500 per
person from 14 to 17
November, reduced to ₹2,000
per person from 18
November.
7. • International airports also
facilitated an exchange of notes
for foreign tourists and out-bound
travelers, amounting to a total
value of ₹5,000 per person.
• The exchange of banknotes was
stopped completely on 25
November.
8. Withdrawal limits
• Cash withdrawals from bank
accounts were restricted to
₹10,000 per day and ₹20,000
per week per account from 10
to 13 November.
• This limit was increased to
₹24,000 per week from 14
November 2016.
9. • A daily limit on
withdrawals from ATMs
varying from ₹2,000 per
day till 14 November
and₹2,500 per day till 31
December.
• The limit was increased
to ₹4,500 per day from 1
January, and again to
₹10,000 from 16 January
2017.
10. • RBIincreased the withdrawal limit
from SB a/c to ₹50,000 from the
earlier ₹24,000 on 20 February 2017 and
then on 13 March 2017, it removed all
withdrawal limits from Savings Bank
Accounts.
• As per Revised guidelines, families were
allowed to withdraw ₹2.5 lakh for
wedding expenses from one account
provided it was KYC compliant.
• The rules were also changed for farmers
who are permitted to withdraw ₹25,000
per week from their accounts against
crop loan
11. Ordinance
• Imposed fines on people found carrying out
transactions with them after 8 November 2016; or
holding more than ten of them after 30 December
2016.
• The ordinance also provided for the exchange of
the bank notes after 30 December for non-
resident citizens and others on a case by case
basis.[
• Fuel pumps, government hospitals, railway and
airline booking counters, state-government
recognized dairies and ration stores, and
crematoriums were allowed to accept the banned
₹500 and ₹1,000 bank notes until 2 December
2016
13. • A fortnight before the official announcement, a news report in the Hindi
daily Dainik Jagran quoting RBI sources speaking of the planned
release of new 2000 rupee notes alongside withdrawal of 500 and 1000
rupee notes.
• Similar news was reported in The Hindu Business Line, describing a
forthcoming 2000 rupee note and the possible withdrawal of 500 and
1000 rupee notes
• A BJP MLA from Rajasthan, Bhawani Singh Rajawat, claimed in a
video that wealthy businessmen were informed about the
demonetisation before it occurred. He later denied the comments.
• More than 30 politicians belonging to the BJP were arrested and
investigated for having unaccounted money in the new 2000 rupee
denomination.
14. Criticism
The Indian Supreme Court while hearing one
among a slew of cases filed against the sudden
demonetization decision in various
courts, observed that it "appears to be carpet
bombing and not surgical strike" which
government repeatedly claims it to be.
15. Chief Ministers of several Indian states like Mamata Banerjee, Arvind
Kejriwal and Pinarayi Vijayan] have criticised and led major protests against
the decision in their states and in parliament. Initially, the move to
demonetise and try to hinder black money was appreciated, but the manner
in which it was carried out by causing hardships to common people was
criticised
16. • Several government ministers had
declared before the demonetisation that
they were holding large amounts of cash,
including Arun Jaitley, who had more than
65 lakh rupees in cash.
• This led to speculation about whether
and when the ministers had deposited the
cash they held
17. • A Parliamentary panel report in April
2017 stated that rural households and
honest taxpayers were the worst hit by
demonetization.
• It said that it was not just the poor that
suffered, but the manufacturing sector
was impacted too.
• According to the panel, demonetisation
created significant disruption throughout
economy, because it was carried out
without prior study or research
18. Opposition
• Demonetisation was opposed in both houses of
the parliament, it triggered organised nationwide
strikes across India.
• Opposition parties like Indian National
Congress, Bahujan Samaj Party, Trinamool
Congress, DMK, JD(U), AIADMK,Nationalist Congress
Party, Left, Rashtriya Janata Dal and the Samajwadi
Party.
• Decided to observe ‘Akrosh Diwas’ as, a protest
campaign and launch protests in front of banks,
demanding that money be returned to people.
19. • The former prime minister of
India Manmohan Singh said "this
scheme will hurt small industries, the farming
sector.
• The GDP can decline by about 3 per cent
due to this move", while he also questioned
"I would like to ask the Prime Minister
examples of countries where people have
deposited their money in the banks and not
allowed to withdraw their own money." and
later also said "It is no good that on each day
banks bring out new notifications.
• It doesn't reflect properly on Prime Minister's
Office, Finance Minister and the Reserve
Bank of India. Cooperative banking system
has been prevented from handling cash".
• Singh at last termed the demonetisation
move as an "organised loot, legalised
plunder of the common people".
21. • The government had
estimated that ₹3 trillion, or
approximately 20%, of the demonetised
notes would be permanently removed from
circulation.
• Modi had stated that due to demonetisation,
corrupt officials, businessmen and criminals
— popularly believed to hoard large amounts
of illicit cash — would be stuck with
"worthless pieces of paper".
• Economic analyst Vivek Kaul stated in
a BBC article that "demonetisation had been
a failure of epic proportions."
22. Human trafficking
• Nobel laureate Kailash Satyarthi and others
working to fight human trafficking said that the
note ban had led to a huge fall in sex trafficking,
but that the trade had already begun
rebounding by the following month.
• Satyarthi said the demonetisation would be
effective in combating exploitation of children as
well as corruption and would be a great obstacle
to traffickers.
• However, two months later he expressed his
disappointment on Rs 2000 notes being pushed
into human trafficking in absence of other
concrete steps.
23. Radical groups
• Dmonetisation had badly hit
Maoist and Naxalites as well.
• The surrender rate has reached its
highest since demonetisation was
announced.
• It is said that the money these
organisations collected over the
years have now lost their value
making them take such a decision.
24. Cash shortage
• The scarcity of cash due to
demonetisation of banknotes,
faced difficulties in exchanging
them due to endless queues
outside banks and ATMs across
India.
• ATMs were running out of cash
after a few hours of being
functional, and around half the
ATMs in the country were non-
functional.
25. • ‘Live ATM Alert’ was a hashtag campaign started by a group of
youngsters from a Facebook community called '7PM Status.
• It launched a campaign for crowdsourcing locations of ATMs in their
vicinity that were live and working.
26. • The public were asked to post
the location and details of
ATMs that were live and
dispensing cash, including a
hashtag #LiveATMAlert or by
tagging the group in their post
in Facebook or Twitter.
• The group would in turn collate
all gathered information and
broadcast it to their followers at
regular intervals.
27. Deaths
• Several people were reported to have died from standing in
queues for hours to exchange their old banknotes.
• Deaths were also attributed to lack of medical help due to
refusal of old banknotes by hospitals.
• By the end of the year, opposition leaders claimed that over
100 people had died due to demonetisation.
• In March 2017, the government stated that they received no
official report on deaths connected to demonetisation.
28. Stock market decline
• As a combined effect of demonetisation and US presidential election, the stock
market indices dropped to an around six-month low in the week following the
announcement.
• The day after the demonetisation announcement, BSE SENSEX crashed nearly
1,689 points and NIFTY 50 plunged by over 541 points.
• By the end of the intraday trading section on 15 November 2016, the BSE
SENSEX index was lower by 565 points and the NIFTY 50 index was below 8100
intraday.
29. Agriculture
• Due to scarcity of the new banknote, difficult to purchase seeds,
fertilisers and pesticides needed for the plantation of rabi crops.
• Farmers and their unions conducted protest rallies.
• The demonetisation led to unavailability of cash to pay for food products.
• The reduction in demand that arose in turn led to a crash in the prices
of crops.
• Farmers were unable to recover even the costs of transportation from
their fields to the market from the low prices offered.
• Agricultural produce such as vegetables, foodgrains, sugarcane, milk
and eggs were dumped on roads.
30. Digital transactions and cashless economy
• Demonetization a significant step towards
making India a cashless economy.
• slogan - ‘Less-cash’ first, ‘cashless
society’ next.
• More people began using cards and e-
wallets, and the demand for point of sales
(POS) or card swipe machines increased.
• Concerns were raised regarding the lack
security of mobile apps used for digital
transactions.
• The government launched an app
called BHIM (Bharat Interface for
Money) based on the Unified Payment
Interface.
31. • Google launched its first India-only banking app using UPI
called Google Tez, that can be used by customers available in
several Indian languages.
• Immediate Mobile Payments System (IMPS) and the Unified
Payments Interface (UPI), which support instant payments using
mobile phones, have grown substantially since demonetisation.
GDP growth
• Global analysts cut their forecasts of India's GDP growth rate
for the financial year 2016-17 by 0.5 to 3 percent due to
demonetisation.
• The GDP growth rate for the quarter April - June 2017 dropped
to 5.7% due to demonetization.
32. Unemployment
• There was a loss of jobs due to demonetisation, particularly in the
unorganised and informal sector and in small enterprises.
• Labour union jobs were crashed.
Tax impacts
• The number of I-T returns filed between 1 April 2017 and 5
August 2017 grew by 24.7 per cent to 2.82 crore over the
same period in 2016, and the advance tax collections
between 1 April 2017 and 5 August 2017 rose 41.8% over the
corresponding period in 2016.
33. People left with old notes
• The government had initially announced that
any person who is unable to deposit the old
notes by 31 December 2016 would be given an
opportunity to do so until a later date.
• Only Non-Resident Indians (NRIs) to deposit
old notes after 31 December 2016.
• People petitioned the courts to allow deposit
of the old banknotes.
• The Supreme Court of India also questioned
the government on this matter.
35. Gold purchases:
• In Gujarat, Delhi and many other major cities, sales of gold increased,
with an increased 20 to 30%.
• Income Tax officials raided multiple branches of Axis Bank and found
bank officials involved in exchanging old notes for gold.
36. Donations in temples
• In India, the cash deposited into hundis, or cash collection
boxes in temples and gurudwaras are exempted from
inquiry by the tax department.
• After the note ban, there was a spike in donations in the
form of the demonetised notes in temples.
Multiple bank transactions
• Restrictions imposed on exchange transactions by
conducting multiple transactions at different bank
branches and also sending hired people, employees and
followers in groups to exchange large amounts of banned
currency at banks.
• Additional measure to ensure that the exchange
transactions are carried out only once by each person.
37. Railway bookings
• The Indian Railways authorities that a large number of people
started booking tickets particularly in classes 1A and 2A for the
longest distance possible, to get rid of unaccounted cash.
• The Railways Ministry and the Railway Board responded swiftly and
decided that cancellation and refund of tickets of value ₹10,000 and
above will not be allowed by any means involving cash.
• The payment can only be through cheque/electronic payment.
• Tickets above ₹10,000 can be refunded by filing ticket deposit
receipt only on surrendering the original ticket.