Demonetization : An Alternate Story

Demonetisation is the act of stripping a currency unit of its status as a legal tender. It occurs whenever there is a change of national currency: The current form(s) of money is pulled out from circulation and retired, often to be replaced with a new currency. Sometimes, a country completely replaces the old currency with a new currency.Almost, two years ago, the day of November 8th, 2016, India viewed possibly the most unsettling policy move the world has seen in recent times: demonetization. The policy affected each person (citizen as well as visitors) and its effects are still being felt. It has also had some positive effects like a sharp spike in advance taxes collected last year. This paper consists of three chapters, the first chapter is an introduction chapter whereas the second chapter will discuss the real reasons behind Demonetization and third chapter will be concluding the chapter with some suggestions