Systematic literature review on demonetisation

On the government announced its decision to discontinue the legal tender status of Rs. 500 and Rs. 1000 notes. The behind the demonetization policy attempt to curbblack money, regularising prices, create corruption free environment, stop flow of funds to illegal activit, make people accountable for every rupee they possess and pay A study by the National Investigation Agency and the Indian Statistical Institute, conducted in 2016, estimated that fake Indian currency notes in circulation have a face value of efore the recent decision of demonetization of 500 and 1000 rupee notes. The government has taken few steps in this direction much before its announcement. Government insisted people to open Bank account in Jan DhanYojana. They were asked to deposit all the money in their Jan Dhan accounts and do their future transaction through banking only. Another step that the government initiated was a declaration of the income and had given October 30, 2016 deadline for this purpose. Through this method, the government was able to wipe up ahuge amount of undeclared income. It was a bold step of our government, many economic expert their opinions and several research studies are conducted on demonetisation. This provides a systematic review of literature on the demonetisation. Various empirical studies are carried out in India and rest of the world on demonetisation. The study is limited to twenty sevenresearch studiesand expert opinions on demonetisation. The aim of this paper is to do logical and structural appraisal of existing literature to determine the relevance of demonetisation in respect of its motives.