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  • In A Back Room of Prime Minister Modi's Home, in Fact

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    kirtan patel
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    Prime Minister Modi's demonetization scheme in India was planned secretly by a small group within his inner circle to invalidate the two most common banknote denominations, 500 and 1,000 rupee notes, and replace them with new 500 and 2,000 rupee notes in an effort to combat corruption, counterfeiting, and the underground economy. The prime minister unexpectedly announced this new policy in a late-night television address on November 8, which instantly went into effect.

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    Prime Minister Modi's demonetization scheme in India was planned secretly by a small group within his inner circle to invalidate the two most common banknote denominations, 500 and 1,000 rupee notes, and replace them with new 500 and 2,000 rupee notes in an effort to combat corruption, counterfeiting, and the underground economy. The prime minister unexpectedly announced this new policy in a late-night television address on November 8, which instantly went into effect.

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    © All Rights Reserved
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    5 views2 pages

    In A Back Room of Prime Minister Modi's Home, in Fact

    Uploaded by

    kirtan patel
    Prime Minister Modi's demonetization scheme in India was planned secretly by a small group within his inner circle to invalidate the two most common banknote denominations, 500 and 1,000 rupee notes, and replace them with new 500 and 2,000 rupee notes in an effort to combat corruption, counterfeiting, and the underground economy. The prime minister unexpectedly announced this new policy in a late-night television address on November 8, which instantly went into effect.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
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    Indias demonetization scheme was a unilateral initiative that was

    planned in secret in a back room of Prime Minister Modis


    home, in fact by a small group of insiders tied-in with the upper
    echelons of Indias government. The strategy was to instantly nullify
    all 500 and 1,000 rupee banknotes, the most common currency
    denominations in the country, and then eventually replace them with
    newly designed, more secure 500 and 2,000 rupee notes. This
    endeavor instantaneously became policy when the prime minister
    announced it via a surprise television address at 10:15 PM on
    November 8.
    Cashless on digital payment method

    Banking cards
    Mobil banking
    Micro ATM
    Internet Banking

    Impact of demonetization on India economy

    Effect on money supply


    Effect on demand
    Effect on price
    Effect on GDP
    Effect on Online transaction

    H0 : There is no significance influence of cashless policy on


    payment system of banks.
    H1 There is significance influence of cashless policy on
    payment system of banks.

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