Demonetization

What ?•Dictionary meaning of demonetisation is to end something.

•Demonetization is the synonym of demonetisation.

Demonetization is necessary whenever there a change of national currency. The old unit of currency must be retired and replaced with a new currency unit.

DEMONETISATION IN INDIA• IN INDIA DEMONETISATION OF 500 & 1000 RUPPEE NOTES TOOK ON 8TH NOVEMBER 2016.

• THIS STEP WAS TAKEN BY THE GOVERNMENT OF INDIA CEASING THE USE OF 500 & 1000 RUPPEE NOTES.

• THE ANNOUNCEMENT WAS MADE BY PM NARENDRA MODI.

• HE ALSO ANNOUNCED THE ISSUANCE OF NEW 500 & 2000 NOTES IN THE EXCHANGE OF OLD NOTES.

What was the reason ?To tackle Black money in the Economy its around. (5 lakh crore)

To lower the cash circulation in the country which is directly related to corruption in our country.

To Eliminate fake currency & dodgy funds which have been used by terror groups to funds terrorism in INDIA.

To Bring Plastic Money in the Economy

To give a direction to CREDIT CARDS, DEBIT CARDS, and e-Payments and other Net transaction

Who needs to worry ? Not the Honest Taxpayers . Even if you have lakhs of money as Cash with you and you can Prove its legitimacy, you don’t need to worry.

The surprise move by government is a disaster for people who have accumulated lakhs and crores of unaccounted cash under their pillows and mattressess. The winter is coming and these worthless pieces of paper can provide the corrupt some ephemeral warmth.

Almost all the Stalwarts of the banking sector including Deepak Parekh, Chandaa Kocchar think that the move will help curb black money in economy.According to MD & CEO, ICICI Bank Chanda Kochhar who told ET Now, “this move will definitely bring about a whole amount of transaction to cash or low cash kind of transactions”.

“A parallel black economy will collapse”, one of the Leading lawyers in taxation laws, Harish Salve told ET Now

Narayana Murthy, founder of the Infosys, welcomed the government move in its fight against corruption. Murthy also added that “the dishonest will have to suffer, absolutely that is right thing”.

What Experts think ?

Side effects OF DEMONETIZATIONLIMITED CASH FLOW SMALL BUSINESSES GOT SPOILEDEFFECTS ON DAY TO DAY TRANSACTIONSDON’T HAVE CASH TO WATCH MOVIES (IN SHORT MULTIPLEXES ARE EMPTY)COMMON MAN IS SUFFERING FROM FOOD & OTHER RESOURCESTHE MAIN EFFECT IS THE CHANGE (CHILLAR)\QUOTING OF PAN IS MANDATORY

ADVANTAGES.....• THE MAIN ADVANTAGE OF DEMONETIZATION IS

EVASION OF BLACK MONEY• MORE USAGE OF E-MONEY {LESS USAGE OF PAPER

MONEY SAVES TREES}• BY USING PAN EVERYONE WILL BE FORCED TO

DECLARE THEIR INCOME THROUGH BANK.• EVERYONE WILL GET USED TO USE THE BANK

ACCOUNTS.• NO ILLEGAL INVESTMENT WILL BE MADE• DIGITAL INDIA

IMPACT ON INVESTMENT BSE Sensex opened with a

massive loss of 1300 points.

Value buying opportunity.

Luxury goods market is likely to get affected .

Gold price rises.

Real Estate sector is the biggest receiver of Black Money.

Facilities given by RBI & GoVERNMENT

ExchangesDepositsCash Withdrawals at Bank BranchesATM WithdrawalsSpecial Provisions for Farmers & Traders buying Agricultural ProductsSpecial Provisions for WeddingsSpecial Provisions for GROUP ‘C’ & Other Employeese-Payments

Effects on GDP growth

Thank You.......

We support Demonetization............