• Neelam Prajapat
• Om Prakash kumawat

Demonetization is the act of tack-down 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 pulled from circulation and retired, often to be replaced with new notes or coins. Sometimes, a country completely replaces the old currency with new currency. Money is considered as the life blood. Money swell when the unlimited want of humans were not met through the commodity exchange system Money forestalls “the double coincidence of wants”. Demonetization strips a currency unit of its status as a legal tender. On 8th November, 2016 around 8 p.m., the Prime Minister of India brought the demonetization with the statement that with effect from 9th November 2016 Rs.500 and Rs.1000 rupees’ currency notes are invalid except in some essential services for the time being. The demonetization has several aims of eradicating black money, removing counterfeit notes, stopping money laundry and so on. Demonetization of currency means discontinuity of the said currency from circulation and replacing it with a new currency. It has deeply impacted customers. This paper traces the impact of this move on customers. As per the yearly report of Reserve Bank of India of 31 March 2016 that total currency notes in circulation is 16.42 lac crore of old Rs. 500 and Rs.1000 banknotes. As per the report of RBI dated on 14-12-2016, the total amount of old notes of value of Rs. 12.44 lac crore has been deposited by the customers till 10-12-2016. Banks started accepting deposits from 10 November but within a period of 15 days approximately half money has been received by the banks.

Demonetization, eradicating, traces, Cashless Transactions, e-banking.

"IMPACT OF DEMONETIZATION ON CUSTOMERS (A Comparative Study of SBI and HDFC Bank) ", International Journal of Emerging Technologies and Innovative Research (www.jetir.org), ISSN:2349-5162, Vol.6, Issue 5, page no.316-336, May-2019, Available :http://www.jetir.org/papers/JETIR1905A55.pdf

"IMPACT OF DEMONETIZATION ON CUSTOMERS (A Comparative Study of SBI and HDFC Bank) ", International Journal of Emerging Technologies and Innovative Research (www.jetir.org | UGC and issn Approved), ISSN:2349-5162, Vol.6, Issue 5, page no. pp316-336, May-2019, Available at : http://www.jetir.org/papers/JETIR1905A55.pdf