This document summarizes information about demonetization in India in 2016. It provides background on demonetization, details of Prime Minister Modi's announcement to demonetize Rs. 500 and Rs. 1000 banknotes, reactions and protests, impacts both positive and negative, and statistics on the amount of money deposited. Key reasons for demonetization in India included fighting corruption, counterfeiting, and moving towards a digital economy and cashless society.

1. CSE-2(A)
GROUP-X
2016-2020
SPINAL TAPPERS

4.  DEMONETIZATION
 HISTORY OF DEMONITIZATION
 REASON OF DEMONETIZATION IN INDIA
 POSITTIVE AND NEGETIVE IMPACTS
 RESULTS
 DEMONETIZATION EFFECT IN WORLD
 DEMONETIZATION IN INDIA(2017)
 CONCLUSION
CONTENTS

5. • The act of stripping a
currency unit.
• Change of national
currency.
• New currency unit.

7.  PM MODI’S ANNOUNCEMENT
 Invalidation of Rs. 500 & Rs.1000 banknotes.
 Issuance of new Rs.500 & Rs.2000 banknotes.

8.  THE RESOLUTION OF RBI
 Initial limit is Rs.4000 per person.
 Exchange of banknotes was
stopped from 25th November,2016.
 Impacts on foreign tourists and
outbound passengers.

9.  Triggered organised nationwide strikes
across India.
 Aggregation of Opposition Parties like
BSP,DMK etc..
 “Akrosh Diwas” on 28th November,2016
 STRIKES

10.  Appreciation from renowned bankers like
ArundhutiBhattacharya(Chairpersonof SBI) &
Chanda Kochhar(MD& CEO of ICICI Bank)
 Reassurance from Finance Minister Arun Jaitley

11. The Indian SupremeCourt observedthat it “appears to be
carpetbombing and not surgicalstrike”
 NobelLaureateIndian economist AmartyaSen criticisedit
as a “despoticaction”
Former Senior Vice-President and Chief Economist of the
World Bank, KaushikBasu, called it a “major mistake”

12. FACTS AND FIGURES
 It has been reported that 97% of the demonetized
 Rs.14.97 trillion($220 billion) as of December 30 out of the 15.4 trillion rupees that were
demonetized.

13. REASONS FOR DEMONETIZATION
IN INDIA
 Terrorism
 Fake Currency
 Cash Circulation
 Corruption
 Black Money
 Eliminate dodgy funds

15.  Eradicate black money, corruption to some
extent
 Huge fall in 20 Trillion Human Trafficking
Industry.
 Other sectors like drug trafficking,
illegal trade
 Various terrorist groups affected badly.
 Steps towards cashless economy.
 Less chance of avoiding taxes.
 Real estate industry is totally corrupted.

16.  Adverse impact on informal sector.
 Endless queues in front of ATMs
& Banks.
 Excessive burden on bank
employees.
 Decrease in demand.
 Violation of rule by General
Public.
 Possibility of breaking Riots.
 Badly affected Indian Agriculture.

17.  Income tax raids and money came into system.
 Fighting corruption and counterfeiting.
 Expanding the formal economic grid and
building digital economy.
 The Indian Finance Minister ArunJaitley
claimed the direct tax collection has
increased 14.4%.
 Govt. reports a combined 68% year on year
increase in tax collection for November 2016.

20. 1. UNITED STATES(1873) 11. NORTH KOREA(2010)
2. UNITED STATES(1969) 12. ZIMBAWE(2015)
3. INDIA(1978) 13. INDIA(NOVEMBER(2016)
4. GHANA(1982) 14. VENEZUELA(DECEMBER,2016)
5. NIGERIA(1984)
6. MYANMAR(1987)
7. SOVIET UNION(1991)
8. ZAIRE(1993)
9. AUSTRALIA(1996)
10. EUROPEAN UNION(2002)

23. We would like to express our special thanks of gratitude to our
teacher Mrs.Sharmistha Basu, who gave us the golden opportunity
to do this wonderful project of Demonetization. We came to know
about so many new things for that we are very thankful. Secondly we
would also like to thank our parents and friends who helped us a lot
in finalizing this project within the limited time frame.

25.  India has a unique opportunity to leverage the Jan
Dhan, Aadhaar and Mobile(JAM) trinity to rapidly enable
ordinary Indians to participate in digital payments.
 Cashless societies are generally corruption free.