Wednesday, April 05, 2017

Demonetization-Challenges In Cash Less Economy

Demonetization-Challenges In Cash Less Economy

On the 8th of November Prime Minister Narendar Modi made a very bold and historical move by demonetizing the Indian currency notes of Rs. 500 and Rs. 1000 and introduction of Rs 2000 notes. Which created a buzz in the country leading to serpentine lines outside the ATMs. Prime Minister Modi made the decision in a secret meeting where very people were present so that the very reason behind the demonetization is not hampered by the disclosure of the news by giving chance to hoarder of black money to find the solution of their problem.

Demonetization was introduced to tackle three main problems which are counterfeit currency, terrorist financing and black money. These are the 3 major problems that our country is facing, which have to be given priority in order to give a push for development.


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