The article is about 2016 decision to demonetise 500 rupees and 1000rupees banknotes. It is not to be confused with 8 November 2016 government of india announced the demonetisation of all 500 &1000 banknotes of Mahatam Gandhi Series.
The Government claimed that the action would curtail the shadow economy and crack down on the use of illicit and counterfeit cash to fund illegal activity and terrorism
The sudden nature of the annoucement and prolonged cash shortages in the weeks that followed created significant disruption throughout the economy, threatening economic output. The moves was heavily criticized as poorly planned and unfair, and was met with protest, litigation and srrikes.
IMPACT OF DEMONETIZATION
1- BLACK MONEY- Black money stored in the form of 500& 1000 notes will be taken out of our system
2-TERROR FUNDING- Fake indian currency notes will be dismantled by the demonetisation measure
3- REAL STATE- Also impact on real estate bussiness.
4- IMPACT ON POLITICAL PARTIES
5-MOVING TOWARDS DIGITAL PAYMENTS