Impact of Demonetization on Rs 500 and Rs 1000 currency notes




Though Governments demonetization is a welcoming move to remove black money, fake currency, corruption and terror financing from the system, it is a bit early to make any accurate predictions on the full impact of government’s attempt to demonetize Rs.500 and Rs.1,000 currency notes . Demonetization is good for the medium to long term economy, however it will adversely impact India’s economic growth in the short run.
Also the cash conversion limit of Rs4000/day and ATM withdrawal of Rs2000/day would introduce short term cash crunch among the general public and could slow down the consumer spending drastically.Now more people will move towards non-cash options like credit / debit cards and online payments


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