Consequence overview of demonetization major affected and effected segments in India-A study

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 pulledfrom circulation and retired, often to be replaced with new notes or coins. Sometimes, a country Completely replaces the old currency with new currency. On Nov. 8, 2016 Prime Minister Narendra Modi of India surprised investors and consumers by declaring that 86 percent of the nation's money stock would no longer be a medium of exchange or store of value. The move was intended to ferret out illegally garnered funds, and that the prime minister's action took aim at the national pastime of avoiding income taxes further this is a descriptive study bird eye view process. Money transaction process, positive and negative effects of demonization are taken for discussion. In this paper continually provideresearch frame work along with suggestion and conclusions. The move was called a “death blow” to black marketers. On January 1978, The Janata Dal demonetized high currencynotes of Rs 1000, Rs 5000 and Rs 10, 000 in a second such historic move, again with a view tocurb black money transactions. It was termed as “an Act to provide in the public interest for the Demonetization of certain high denomination bank notes and for matters connected there with or Incidental thereto.”