Download - Demonetisation In India
DEMONITISATION ACT OF TAKING BANK CURRENCY AS A TENDER UNIT.
COUNTRIES WHO HAVE DONE THIS BEFORE
GHANA ZIMBAWE AUSTRALIA NEWZEALAND USA EUROPIAN UNION SINGAPORE NORWAY UK INDIA
DEMONETISATION IN INDIA
ON NOVEMBER,8 ,2016 PM MODI ADDRESSES THAT RS 500 AND 1000 NOTES WILL NOT BE A LEGAL TENDER ANY MORE
PM Narindrer Modi addressing speech regarding ban of Rs 500 And 1000 Rs notes.
SO A COMPLETE BAN ON RS 500 AND 1000 RS NOTES FROM MIDNIGHT OF 8TH NOVEMBER WAS MADE
NEW CURRENCY NOTES OF Rs 500 and RS 2000 WERE MADE IN CIRCULATION
POSITIVE IMPACT OF DEMONETISATION
TO FIGHT TERRORISM
TO REMOVE FAKE CURRENCY
TO PROMOTE PLASTIC MONEY OR DIGITAL TRANSACTIONS
DECLINE IN HUMAN TRAFFIKING ILLEGAL ARMS TRADE AND PROSTITUTION
TO INJECT MORE CASH IN THE ECONOMY
TO USE UN UTILIZED CASH IN THE ECONOMY
NO TO TAX EVASIONLess tax theft because of digital economy
MORE MONEY TO BANKS SO THEY CAN LEND MORE
RULES AN
D REGU
LATION
S
• ATM WITHDRAWL LIMIT WAS
SET AT 2000 PER DAY
• WITHDRAWL LIMIT AT SAVINGS
ACCOUNT WAS SET AT 24000
PER WEEK
• WITHDRAWL LIMINT OF SAVING
ACCOUNT WAS 50000 PER
WEEK• PAN CARD WAS REQUIRED FOR
DEPOSIT OF OVER 50000
• NO ENQIRY ON MONEY LESS
THAN 2,500,00
ADVERSE AFFECTS OF DEMONETISATION
DECLINE IN STOCK MARKET
DECLINE IN REAL ESTATE
INFLATION OR PRICE RISE
HARDSHIP FOR MARGINAL LABOURERS AND MIDDLE CLASS PEOPLE
DECLINE IN ECONOMY
SO THAT WAS MY VIEW POINT ON DEMONETISATION