Demonetization refers to cancellation of legal tender status currency in circulation. Anticipating positive effects on the economy, nations often adopt demonetization policy. Government India adopted policy November 8, 2016. Prime Minister Narendra Modi announced this while addressing nation his Mann Ki Baat speech Under policy, high denomination Indian notes Rs.500 and Rs.1000 were declared be...

The Indian demonetizations of November 2016 came at an entirely new scale to those January 1946 and 1978. This time around, the Narendra Modi government's measures applied 86.4% banknotes coins in circulation, equivalent 11% GDP. Much analysis has been undertaken on demonetization. largely critical because its disastrous consequences local populations most deprived among them. Our paper adopts ...