A Study About Demonetisation Impact And Its Objectives

Demonetisation is act of stripping a currency unit of its status as legal tender. It is a change of national currency. The old unit of the currency shall be retired and replaced with new currency unit. November the 8^th, 2016 the date has become landmark for the Indian economy. It was an ordinary day for any Indian, but then `the clock struck 8: 15 p.m. and there was our prime minster addressing the countrymen. In a 25 minute long speech, the prime minister had waged a war against black money by withdrawing legal tender character of Rs.500 and Rs.1000 notes with effect from midnight, and issuing new Rs.500 and Rs.2000 in place.