An Analytical Study of Demonetization
‘Demonetization’ is an important term in the affairs of currency and finance. It is the act of changing available currency and introducing new one or replacing available currency with new notes or coins. In simple language it means stopping available notes and coins officially. The act of Demonetization can stop old notes and coins and government can bring in use new and suitable currency for that particular era either in the form of notes or coins. In the world ‘Demonetization’ has been done by various countries several times. As we know change occurs in every country as far as time passes. There is no option for change and everyone has to change according to time. Nobody can get stuck into the old and outdated things forever. Demonetization is also one of the required activities for every country to maintain the finance affairs in well manner. The present paper aims at giving information about the term ‘Demonetization’ in simple language. It also takes review of ‘Demonetization’ happened in the world. Finally it talks about the impacts of it.
Alpana Killawala, Principal Adviser PRESS RELEASES Government of India vide their Notification no. 2652 dated November 8, 2016
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