DEMONITISATION

BY
TRIPTI
RISHIT
A
SHRAST
I
VISWAS
 WHAT IS
DEMONITISATION
Demonetisation is a act of striping a currecy
unit of its status as legal tender . The
demonitisation of 500 and 1000 banknotes
was a policy by the government of India on 8
november 2016 all 1000 and 500 banknotes
ceasing to be legal tender from 9 november
 ABOUT THE
ANNONCEMENT
The announcement was made by the prime
minister of india mr. narendra modi in an
unschooled live teleision. In the announcement
modi declared that use of al 500 and 100 banknotes
of mahatma gandhi series would be invalid after
midnight of 8 nov. , and also announce the issuance
of new 500 and 1000 of mahatma gandh new series
is introduced exchange for the old banknotes
 IMPORTANCE OF
DEMONITISATION

Government claimed that

demonitisation of was an effort to stop
funding terrororism as well as
curroption and also the use of druggs
and smuggling
 Advantages of demonitisation
The biggest advantage of demonetization is thatit helps the
government to track people who are having large sums of
unaccounted cash or cash on witch to income tax has been
paid because many people who earn black money keep that
money as case in their houses or some secrate place which is
very difficult to find and when demonitisation happens all
that cash is of no value such people havetwo option one is
the deposit the money in bank accounts and pay texes on
such amount and second option is to let the value of that
cash reduced to zero
conclusion