• Dr Abhishek Tripathi

This paper focuses on the Demonetisation of most Rs 500 and Rs 1,000 bank notes in India. The main goals behind this move had been to uncover black money, to place check on corruption, curbing of terror funding, and demolish currency that is fake. Another motive regarding this is that the government was to produce a economy that is cashless. Cashless transactions have the good thing about transparency in other words all transactions can be tracked and traced. This helps the government to track payment to terrorist orgnisations along with other activities which are being anti-national. According to Government of India the policy that is cashless will be felt in modernization of repayment system, Convenient mode of repayment, Capital development , Unearthing of black money, Tax collection enhancement , Terrorist and naxalites funding control, Transparency and tracking, Reduction into the price of financial service, Reduction in high security which also suppress banking associated corruption. Demonetisation has urged the economic climate that use less cash but has actually remaining various difficulties for India, who is just a currency dominated economy. The drawback is about the cashless economic climate is that not everybody has got the understanding of doing electronic deals and hence its reach is restricted to urban and semi-urban centers just. Driving a car that is biggest may be the risk of identity theft. Another demerit associated with economy that is cashless that electronic mode of payments like the card, wallet repayments, will involves some transactions fee that will be not the case with money deals. It can be slowly followed because of the people of the country as one can see from the aforementioned that cashless economy has actually advantages along with disadvantages and any government thinking about adopting cashless economy design should very carefully evaluate the merits and demerits.

DEMONITISATION : ITS TYPES AND BENEFITS TO INDIAN ECONOMY

"DEMONITISATION : ITS TYPES AND BENEFITS TO INDIAN ECONOMY", International Journal of Emerging Technologies and Innovative Research (www.jetir.org), ISSN:2349-5162, Vol.6, Issue 3, page no.201-209, March-2019, Available :http://www.jetir.org/papers/JETIR1903N24.pdf

"DEMONITISATION : ITS TYPES AND BENEFITS TO INDIAN ECONOMY", International Journal of Emerging Technologies and Innovative Research (www.jetir.org | UGC and issn Approved), ISSN:2349-5162, Vol.6, Issue 3, page no. pp201-209, March-2019, Available at : http://www.jetir.org/papers/JETIR1903N24.pdf