Impact On Demonetisation - A Case Study of Dimapur District

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Towards
Approaches
and
Demonetisation
Ratan
Borm
Dutta
Editors
Subit
Economy,
Economy, AndImplications
Consequences, Countering
On Planningemineht
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academi Diphu, pub international
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Demonetisation Department activities Professor Conferences.
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follow usual discussions
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pattern popular the Bhubaneswar-7,0disha Nagar, Saheed 90,
discussions
in legal and socialeconomic, political, triggered
new
Offices
has 2016November declaration
8th on Ministerial Prime the
demonetisation,
following the over debate The time. our events
of
economic the ofone going
beto experience
isand memorable Editors 2018 Copyright©
generations' a2016
isNovember, declaration
8th of The
Preface
Roy Monjit
98
Dimapur Reference
to with Sector
Impact
of the Study
on Case A
in
BankingDemonetization
Sarma Gargi
88 Demonetisation
Era
Unethical book. thediting
is
Initial of Advertising
the Practices processof contributed
the in indirectly director
ly have who those
Bhadra Prasenjit Mr. - algratitude
l to deep express
my we
least, the not but Last
72
District Sadar enormoUs.
"Impact
of themis to
debt My
book. publish
the initiatíve
to the taup
kíng for
Dimapur study Case -A
of Demonetisation" India House
Publishing Global thankful
to sincerely are We
Baruah Kr
Uttam Dr process. entire during the guidance andsupport help,
53
achievements and constant their University
for Dibrugarh Professor, Bezborah,
Fact
over check Economy): (Digital System Pranjal Professor University
and Calcutta Professor, Retd.
formances
impact its and
on Demonetisation Banerjea, Sudipti Professor University; Gauhati Professor, Retd.
Payment Electronic AssamCommerce,
Sweety
Das Sikidar, SujitProfessor Silchar; University
36 Department Head, and Dean former Emeritus
and Professor
Chandan
Das of
Dey, Bhusan Nikhil Professor thankful
to also are We
Economy Indian Issues
in the out to
bring support p
and helconstant their for
volume. edited
Demonetization-
StrikeSurgical A Sanyal Joyjit and DaSweety s Mrs. Chanu, Ibemcha Dr.Ayekpam
ultifaceted Curb to thankful We
Norbu Tenzing Bhowal. Amalesh Professor colleagues my to
23 the are book, ofa form collectively the in
Chakrabarty Arindam themselves. contributors source
of My
articles scholarly to is
bring inspiration
Economy Digital Achieving for Stone many
country the parts ofvarious the fromscholarsresearchers,contains which
India: Literacy of
in FinancialUniversalization research scholarly
Stepping A contributedpapers/articles
by this Wicustoms. and
Dr. background,
this th and
SinghGiridhari Rajkumar published bookis edited ty political
the maturiof
9 Announcements traditions trading and
to
thepopulations; is
Indices Sectoral NSE the on market their related to closely
Study
on Event An level structure,
Demonetiza
tion Impact
of the social of the to have
been notification
country.It the states in i
standpoints.
ofdifferentMoreover unalike popular the
experiences
the of the discussed beto
demonetisation new about
Contents fneu:rom notification
than Therefore,
the
fraternity academic
more much there
is feels one.square toback beall
transactions, ofall
with but currencies.
coulcirculation,
d it in
back notesb these cashless A
economy is
track keep can one better
as
research economy? Thi s
Theairport. anhas also and head rail
effects isation Indian scenariofo run long in as wel
39 National
that Highway alsoa
economy?run short Indidemonet ainn impact the ed
important It Manipur
anisstate. Nagaland
and gateway
to the boost decihas sioofncons and pros economy. the are What as
their trace can town the of and money bla ck eradi
townis The times. British historyto ban note that, thce ated actually this How decision
had
business The East. North township
the of developing fastest the welfare governmentmind comesinquestions
and circulation for is aken decision many sonation,
tby but the
isit
ofone centered; ardistrict
e ofdevelopment
the activities currency in Thi sofGDP. 13%% of
economic the which around magnet the andis state the ofhub levelofs highest amongst the at
also iS
has India
commercial India".Dimapur
the townis Mini known
as to
order economy India", Digital empower
heterogeneous
ofmix activities, in e encourage
whichit for and India, over allfrom people toand financingcashless terroristthtowards the
Nagaland,
hasa commercial
in hub major the city,Dimapur money, blcontrolling
a ck
Circulation,country currency fake
Study: the Area
of aim ed
at is
move Thesuppl y . currency the
accounted
80% denominated biggest
Currency of ban) (fully notes Rs 1000 and 50demonet tw o th ese not es,
processing. data data, sources of design, research the takena government
the ize to
s tep bold
objectives
the of thachieve
e and has Indian The 2016, November
include sections the and study 8th In
questions research thanswer
e carefully
to chosen therefore this
is cash-dependent discourage trade.facilitate economy, to
in economic run a evasion),
to (cOunterfeiting, tax
methodology
for economy.
The Indian condition crime corruptionand combat
in wil this howidentify to is inflation,
to combat like:-to are
long aswell asrun short the effect reasons Some currency. of
units local demonetize their
purpose government"
itand Indian taken
by decision ban note of nations why
to study the of reasonsnumerous are There tender. legal restored
as payment
impact term long and term short the about know is
the andcollect to forms
of remonetisation,
which in called whieconomics,
ch
is on
objectives main The study. the for data analyze exist thing
important one aThere
iscurrency.
used technique
isthat and
the conducted research
is the which by new wiCurrency
th
This the completely
old replaces country Sometimes,a coins. or
method and
theprocedure thmainly
e consist
of section notes new wireplaced
Methodology Research th beto often retired,circulation
and from
pulled moneyis formsof form
or current currency.
The national
Ecomony. changeof athere
iswhenever occurs tender.
It legal status
as
its of
currency
unit strippinga of
Demonetization
act the is
of
Indian overview tcontext
he keeping
in district
reference
to specific with sectors Introduction
Sadar Dimapur
demonetization impact
of the out find To 2. Bhadra Prasenjit Mr.
various in Independence.
demonetization
in District Sadar Dimapur
after and before India triggered
"demonetization" udy
stof
on
historical emphasizes putting
an by
give 1. Case -A
Demonetisation". "Impact
term of
the Overview cut clear aObjectivesTo of
respondents
Dimapur of
affected
in
field. various working are who the
analysing Economy
by Indian intends
fromcollected data comprehensive. do
a to
demonetization
has how study
on
Bhadra Prasenjit Mr.
73
interpretation. Data decision
of for basis the as
used &
analyzed organized, well secondary.
is It primary& bothcollected es ructural
fine. faciare liintifrast
Data
were objectives. accordance
with meaningful in isdata connected also of106.
isItpopulation basic the andNH-36
collected Themethods. appropriate has
used researcher The witvi
h l age populous
Data Sources
of
Thaheknuthe Dikisoi and 7033populatiofon
th em among withvil age ous least by
kashiramAO, IndustrialVil age, etcSenj
., um, Kashiram,popul most the
analyzed scientifically
data. organized
and l1kedistrict are11"villages Angami, Sangtamtil a, Sig Thahekhu,
nal
inhim help
sub the in and
systematically study This
is research. further ofhis pursuit state the district Dimapur
of located
There India. Nagalin
new obtainsresearcher The town.Dimapur in most district'
the s Dimapur in district, populous
sub
could thatfinding &experiences perceptions lakh 1.7 about population of
fieldsdifferent ofrespondents
workìng
in Area):
Circle(StudyisDimapurSadar with
consideration into takes design design.).
The research final the
htp:/ www.kvkdimapur.nCircle,ic.in/dimSadarapurDimapur
:.htm Source:
the
improve definitions
and operational develops priorities, establishes
deep giveaconductedto research is
problem, the into insight is"Exploratory design Research
(Exploratory
research Research" Temperature
findings
are conclusion& various Subtrophical C40 - 10
Thereliable. pragmatic& clearly& be 73.34% FemalClimate
e b)
reliability
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problemof the scopeof nature The
& perfection. Male a)
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wiresearch
th objectives
of thefulfil 78.15% Literacy%
economy& precision, collection careful the for
so analysappropriate
is ofrelevant
data
& km sqper 332population Density
of
specifications provides
the thatoutline used
this Researcher 1.5:1 Male/female
ratio c)
Design Research 142047 Female b)
166335 Male a)
308382 Population
households
28762 Number
of
204 Villages Number
of
longitude
East 93°54 93°30& and
latitude
26°00'North 25°48'& Location
km(92700
ha) area
sq. 927 geographic Total
GLANCE PROFILE
AAT DISTRICT DIMAPUR
ohers Al
10.1
an
MUslim 33
Gristian Districts: Dimapur Profile
of
indu population wiseReligion
z011
-
SadarDimapur District. Dimapur through
Figure- runs Moreh connects
2011-Dimapur Population WisReligion
e border
of Myanmar and Imphal Kohima,
Sadar
Bhadra Prasenjit Mr.
lndia Digital Demonetisation 74
andApproaches
Towards
75
Administered
Areas
on modifications,
the to 64,620 107,651
1946. January
22, 43,03| Working Non
wiextended,
th to
also were India, British applicable 4,634
suitable 4,578 9,212 Workers Marginal
second tprovisions
he of The 9,739 40,813 50,552
was whichOrdinance, states: princely For 356 658 Industries Workers
Household Other
1,014
119 284 403 Labourer Agriculture
days. ten first in 197 584 Cultivators
where Feb 10,411 42,339 52,750 781 Workers Main
why on
they explanations give d
tohapeople Female Male Total
nocould
t ended first meant
extended
to9 later was This Jan. 23 at helpline
given were People well. notes
as 100 laborer.
Agricultural was 403 whico-owner)
le (owner
or
whichexchange for days 10 too,
discarding
their people to demonetised
and panic leading cultivators were 781 Work. Main engaged
in workers 61,962
Rs alsorumour months.Of than6 less livelihood
for providing activity Marginal
100 Rsthat around went
being wvere notes calleda was move The price. involved
in were 14.9% while Months) th6an more Earning
marketers.A black blow' to 'death The (Employment
or Work Main as
work theirdescribe workers
their cent
of and 60sold
per 70 at being were notes old hit. work engaged
in were 61,962 which, Of
85.1%
ofactivities.
exceptionally
at long 114712 is
out population working total the Circle Sadar Dimapur
being classes middle the and bank the lines
repercussions The Sadar Dimapur Ratio
of SexAverage
withsimilar were In886. Circle
is
shock, dying
of people the thatreads The Circle. Sadar Dimapur residing
in families 36,444 total
curb toaim was move
anwith made January
marketing. black page front The 1946. 12, In
were there 2011 females. 79,665
are while males 89,948
are
Indian of
day that from Express and 1000 500,
Rs Rsof which ofOut 2011. Census as population
the per 169,613 of
legal l
benot wi10,000 Rs Sadar Dimapur
from tender 11,
1946, January On total district
has Dimapur Circle
of
that government the Econom). Indian on study:
96 size
the for Sampling
notes announced
Overview e
40) -25ag(From Class Working audience: Target
Its and of Historical to city.
Dimapur covering
Impact Demonetization inference. the draw
are collected Data
so " proportionately chosen have
been respondents population
96
theoretically interpreted analyzed
and business. own their doing
professions. and age sex, their of significant
dense with townDimapur In
" sectors
or various working
inrespondents perceptions
of various
different
work asked
to Question
are mind. studyin judgment. knowledge
and
irrespective groups colleotemployedto was It professional
"
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onsampled be units
to selectsresearcher the
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aisJudgmental
thobjectives
e of
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Bhadra Prasenjit Mr. andApproaches Demonetisation 76
77
High TheHence, economy. circulation
the in ofout money Dlack ofo10,
ut 000 Rsand 5000 1000,
away drive aimed to also Desai Morarji byban note The announced
the Desai Morarji Rs Rs
taking currency
the 1978; India Minof
ister Pribman e then
ban: 2016 and 1978 Similarities
in Jan 16th in placedemonet
took ization second The
1978: Jan 16
Demonitization Second
bit. risinga then and lows dipping
to
volatle highly also wervolumes
e Itused.
s barely was10,000 introduce, were notes 10,000
much also was 1930,K in
years four after and 1934 introduce
in were notes
because
Rs was this 1946 seen
in thansmaller
it atleast 1946,
was bsome Inall. 1000 Rs
and 500 currency.
Rs 5,000 introduction
Rsof additional
denoms amount The
of destroyed. anwith reintroduced
1954 in were notes the However,
both
stockat money anydestroy ,
not did itSocrores. 650another up
by "demonetisation than losses and profits of
ratesvarying
made denoms smaller the ofrest the and alone 100 Rsadded at more
of It
was presented. been having not
to 1977-78. 10000)
in 5000 + + "conversion, only worth notes
were crores 1067 this,Compared So, demonetised probably were crores Rs.9,07
Rs demonetised
1000 (amount the was crore 73.1around of
the Directors Board
of the Reportof
Outcomes: Thus, Bank. Reserve
mentioned 1947
as of toup
end the exchanged were Crores
the in issue total
Rs.134.9 value
of the of notes crores,Rs.143.97 of
in
cash. amount keeping
the
the them. presented
In by were notes such when
into came notes the which aofout end, exemption the of the
reasons and
thepossession his/her questioning serutiny
or from Statesprincely
for full with
from source things, the other among giving,particulars was considerable
was taken advantage which loophole of Another
atorRBI the notes the
at gains sordid established
the as presented
or it
formatprescribed the banks
in notified competent person a black-marketer. aof could
his/her on act to hard-working life-savings
the of the proved
as be
tender tohad They behalf. denomination
notes who man whicha method by
the person by in individual by
anbrought notparticular
e
themselves individuals
by or 16Afte r not
on could
be notesJanuary, administrative fool-proof nowas There served.effectively
high the tender ofexchanged surrender days three
to gesture punitive minatory
and aas
denomination high equivalent black-marketing was towards
conversion. for notes the value
by really
not was It
given was toopublic general The Bank. purpose and revolutionary
itseven measure a
January 16 On1 under: 1957,
asFebruary
exchanged would
be held notes denominationThe 1978. hig h
anfor notes information Fund PrizeMemorial Naoroji
ofbusiness close the at them as with held the (in Bombav in delvered at Lectures, measure
data form
of Chintaman, ST summed byup were
Bank
ofReserve t'return)
he to govt. and Banks Dadabhai
demonet isat io n his in having not
treasuries
were days of3 time presented.
submit required to exchange to notified demonetised probablythe results of were crores The 9.07 Rs. been only worth notes
Rs and 5000 1000,
Rs
s
Rs
notes. 10000 Act. the under 1881, Thus,
exchanged. were of not
lesser even given was public time This January
1978 17 denominotes,nation highcroresthe 134.9 croofres 143.9Rs7. value Rs. isof suethe toof tales a
holiday public beto
adeemned was demonetization.
For returns' of ,O ut
of 1947, of
en d the succeed,
by as not measure
did The
Instruments Negotiable
Act, thpurposes
e of were that 'all Outcomes:
contexxt of tcompleted
he in tube needed except business
preparation thej
and 1 treasuries
the or
receipt presentation would-be holdings
transaction 17closed
on notes
before demonetised ofgs
of for 1978 January provided Ordinance generation The thexchange enact not did
eir 1946. toMar7,ch
government and banks the in
all that country. circulation. .
which StOratesdinancesrequired legislation
were such
parallel issued Indian Many
The also States
i
money black ban the ofaim sole
curb towas India Digital andApproaches
Towards[ Demonetisation 78
Bhadra Prasenjit Mr.
79
consume Nagaland ATMsin 157 Further, the ATMs.
each&taking are banks system, money
in scarcity
of effected and Banks
reach steps every
to to due worst ly dimapurians
was
of But
the with accounts. district, whole fromDemonetization, Apart
banking Socialintroduction the of 83% ti
ofme the At
bank accessto have does
not population market. theinvolved
in also money
is th at means involved,
it are
or
200 Crore 20than more be activities business When boom, activities
that means This million. total to business focentre
r
bankshaving individual number
of vital plaace this makes which Airways Railways,&Roadways,
cannotaccounts But 2015. connected
accounts, multiple number of the given by is StateNagaland
which entire in
area plain
the 1of3 total only theNagaland,is capital
ofcommercial Dimapur,
the
account
in bank savings million 10 Crore 3or
Importance
this of Sector: Banking
there India
aare In is
that system
banking social it
inmodify need the
to fields: business variousdemonetization
in Impact
on
system.
The
thewhere raised beenrecently
requires system banking customers
concept new Buta profit. earning and ConversIn,
has providing means which banking aof
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aas Thicumulation.
isrd of
to
the services best
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of waas first The
classfollow toused system Banking participating from currencies. 20Rsand 10Rs
theirexchange
Prior sector.financial
30 to the in
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to seen were people immediately
hoards
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that
people exclude constraints respectively. were
circulation,
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with rumours
address
and strives
toinclusion Financial back ofus
anreminds
businesses, and there when 70s, early to dating incident
size net of
and worth irrespective features
and incorporating
new replaced
by
affordable
costs accessible services
at that And design.
individuals all to Financial denomination
like notescurrency
financial making pursuit The
of Inclusion: also wil 100 Rsand 50 Rs
be
Branch) smaller that buzz alsoa thereis 2016, back Coming
to
in money country.
Dimapur Bank
of
Baroda, Banks(Source: few.privilege the
accounts
and their open whole thshaken
e had ban recent the While
amounts
of hugedeposits government. the to onlaffected
y and people the effect
on much have didn't It
many
tradersdemonetization, After form
of
the that means which long. for
too currency
known not was earn they profits the inmoney black store never people tbelieved
hat also Patel
banks. theaccountsin their had 30% than lesstraders,
transactions partopposition
y. the funds
ofimmobilize
the siimplemented
mto
ply
ofcheques.
Out banks
or through
100% primarily as
they banks was ban the tbelieved
hat Patel Governor
I.G. Governor.
The
deal
in unaccounted
online than rather cash which
earlier not are profits RBI the backing
of the have didn't Desai Modi, Unlike
disclose
to market Differences
the in
the where ban:
amounts
of huge earn traders Seconded
Dimapur backbone of are
one markets i
the i of
cash huge leads
to confidential.
Instant, For bank. the into inflow kept were affairs
openurgently theyaccounts the Both following
day. the closed were
which Banks accountin Black
Many Money: todue pros Similabanksrly, channel
the whisc.h after radio the over the
banannounced Desai
bank have don't who peopledemonetization. other was thataddress
hand
if an
currency
isban announced
thenews alacross
l broadcasted
ModiNarendra
: implemented.
positive ainlookit we mind. (Demonetisation)
many areperspective,1 side is It was Act
not
there Demonetization of one less
tNagaland.
he On effect
in than
15
Bank
Notes Denomination
day crore
ain
considered
in be tofact which
is
andApproaches
India DigitalTowards
Demonetisationa 80
Bhadra Prasenjit Mr.
81
BSNL asfar As
is demonetization.
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BhadraPrasenjit Mr.
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demonetisation/ PM) 8.50 Time: of
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demy.com/know Retrieved 9.
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