A Study on The Impact of Demonetization in India With Special Reference to Electronic Payments Like Rtgs, Neft, Mobile Banking And Point of Sale.
Journal Title: International Journal of Humanities and Social Science Invention - Year 2018, Vol 6, Issue 12
Abstract
India‘s sudden action of demonetization was to control the flow of black money and fake currency. The government made this high risk economic intervention in the world‘s largest democracy to reduce corruption too. But it was not completely achieved. Although the impact on corruption remains to be seen, demonetization experiment has generated some important thinking about cash, corruption and the digital economy. The aim of this process was to wipe out the counterfeit currency, scrap tax evasion, abolish black money generated out of money laundering and terrorist funding activities, and to promote a cashless eeconomy. The purpose of this study is to compare and analyze the impact of demonetizations and their significance in the economic development of India. The research study was conducted to identify the impact of demonetization on electronic payment like RTGS, NEFT, Mobile banking and point of sale. Moreover everyone would be able to know the impact of note banned decision on electronic transactions in Indian banking sector.
Authors and Affiliations
Mr. Shabeerali Pulikkalakath
Keywords
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