• Dr. Anil Dogra

India has amongst the highest level of currencies in circulation at 12.1% of GDP. Cash on hand is an estimated at around 3.2% of household assets, higher than investment in equities, or roughly around $ 220 billion. Of this cash, 89% is in the form of Rs 500 and Rs 1,000 notes or roughly Rs 14-15 lakh crore .A significant portion of the household cash on hand is generated by economic transactions that are not reported to tax authorities or generated through corruption. Scrapping the higher denomination money would either result in these being brought into the system or the money just disappearingDemonetization refers to Withdrawal of a particular form of currency from circulation. Demonetization is necessary whenever there is a change of national currency. The old unit of currency must be removed and substituted with a new currency unit. The currency was demonetized first time in 1946 and second time in 1978. discuss the impact of recent demonetization on the Indian system.

Demonetization, Black Money, Counterfeit Currency, Corruption.

"Demonetisation on Indian Economy", International Journal of Emerging Technologies and Innovative Research (www.jetir.org), ISSN:2349-5162, Vol.5, Issue 2, page no.1279-1286, February-2018, Available :http://www.jetir.org/papers/JETIR1802232.pdf

"Demonetisation on Indian Economy", International Journal of Emerging Technologies and Innovative Research (www.jetir.org | UGC and issn Approved), ISSN:2349-5162, Vol.5, Issue 2, page no. pp1279-1286, February-2018, Available at : http://www.jetir.org/papers/JETIR1802232.pdf