Impact of Demonitisation on Banking Sector- An Overview

  • Unique Paper ID: 167982
  • Volume: 5
  • Issue: 6
  • PageNo: 425-430
  • Abstract:
  • In 2016, the Indian government decided to demonetize the 500- and 1000- rupee notes, the two biggest denomination notes. These notes accounted for 86% of the country’s cash supply. The government’s goal was to eradicate counterfeit currency, fight tax evasion, eliminate black money gotten from money laundering and terrorist financing activities, and promote a cashless economy. This paper contains the concept of demonetization, past history and impact of demonetization, impact of demonetization on banking sector.

Copyright & License

Copyright © 2025 Authors retain the copyright of this article. This article is an open access article distributed under the Creative Commons Attribution License which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited.

BibTeX

@article{167982,
        author = {Ramamurthy B. M and N. Vanitha},
        title = {Impact of Demonitisation on Banking Sector- An Overview},
        journal = {International Journal of Innovative Research in Technology},
        year = {2024},
        volume = {5},
        number = {6},
        pages = {425-430},
        issn = {2349-6002},
        url = {https://ijirt.org/article?manuscript=167982},
        abstract = {In 2016, the Indian government decided to demonetize the 500- and 1000- rupee notes, the two biggest denomination notes. These notes accounted for 86% of the country’s cash supply. The government’s goal was to eradicate counterfeit currency, fight tax evasion, eliminate black money gotten from money laundering and terrorist financing activities, and promote a cashless economy. This paper contains the concept of demonetization, past history and impact of demonetization, impact of demonetization on banking sector.},
        keywords = {},
        month = {September},
        }

Cite This Article

  • ISSN: 2349-6002
  • Volume: 5
  • Issue: 6
  • PageNo: 425-430

Impact of Demonitisation on Banking Sector- An Overview

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