Impact of demonetization on banking services “among all forms of mistake, prophecy is the most gratuitous.” george eliot, middlemarch

Demonetization is the process of stripping a currency unit of its status as legal tender. The opposite of remonetisation in which a form of payment is restored as legal tender. Due to demonetization it affects the people to buy necessary products for everyday essential. Earlier only people who are having through knowledge about computers and electronic appliances used to perform online mode. At the present the government is encouraging and sometimes making compulsion to perform online financial transactions. The elimination of corruption and eradication due to this demonetization the consumer attitudes towards the usefulness and willingness to use Internet e banking was identified and measured. For the consumer shifting from cash transform to cashless transactions such as Paytm, debit cards and Credit Cards. The main objective of the present study is to find out the impact of Demonetization on banking services, study is based on secondary data. The result of the study shows that there is positive and negative impact of demonetization on banking services.