Impact of Demonetization on Accelerating Digitalization in the Indian Economy
Author(s): Dr. G. Vidya Sagar Rao
Publication #: 2501093
Date of Publication: 07.04.2023
Country: India
Pages: 1-6
Published In: Volume 9 Issue 2 April-2023
Abstract
On 8th November 2016 when world is curious to know the US Presidential candidate; there in India Prime Minister Mr. Narendra Modi did a surgical strike against Currency through a weapon called ―Currency Demonetization‖. Demonetization means termination of agreement that 500 rupees and 1000 notes will no longer act as a legal tender of the country. The rapid Globalization has opened a door for faster transactions across the world in turn moving the individuals to Corporates to indulge in paperless, faster and highly transparent transactions by using internet and moving the global economies to digitalization. The current Paper focuses on how demonetization has improved the digital transactions across the nation and its impact on diversified Sectors, Markets and Economy.
Keywords: Demonetization, Economy, Digitalization, GDP, UPI, BHIM
Download/View Count: 141
Share this Article