Thursday, 17 November 2016

Impact pros and cons of demonetization


impact pros and cons of demonetization

Impact and Pros and cons of Demonetisation in India are very wide. 

Before we will discuss the advantages and disadvantages of Demonetisation, or pros and cons of Demonetization we must discuss the following points.

What is Demonetisation?
Demonetisation is a process by which a denomination of currency will not be legal tender. The denominations of note will not acceptable as valid currency. The same thing happens with the Rs. 500 and Rs.1000 note after demonetization.

What are the causes of Demonetization?
There can be many reasons of Demonetisation in any economy some of them are : Introduction of New Currency , to stop Black Marketing, excess Currency Storage,  High Corruption rates and others.
There will be excess fake currency in the economy is main reason of demonetisation.

What Happened on Demonetization?
On 8th November 2016, Government of India had announced that from that day on wards rupees 500 and 1000 rupee note will not be a legal tender. This means that 500 and 1000 rupee note will be accepted by anyone except the organisation declared by government. They can change the currency from the banks and post offices till 30th December 2016.

What is Impact of Demonetisation? What are Pros and cons of demonetization in India in 2016?
There are clear Impacts of demonetization showing in all the cities of India. Results of currency closure can be advantages or disadvantages. Business Batao supports the currency demonetization in India.

We are mentioning the current disadvantages of Demonetization:
  • All India is in line out Banks and ATM’s for Cash.
  • People are waiting for more than 5 to 10 hours to get cash from Bank. Still after waiting some people are no getting Cash. Harassment to public is a big cons of demonetisation in India.
  • ATM’s are not calibrated according to New 500 and 2000 rupee note.
  • Till 16th of November 2016 there is a report of death of more than 35 people due to cash problem.
  • People are getting 2000 rupee note but not getting the change in the market against this note. Small currency is threatening Disadvantages of Demonetization.
  • There can be a problem of Law and order in the country.
  • All families where there is marriage in the month of November are in big trouble. Another demonetisation disadvantages is with those families.

 Advantages of Demonetisation / Pros of Demonetization.
    pros and cons of demonetisation
  •  All fake currencies will be swiped in one shot is the biggest benefit of demonetization.
  • Bank and Card transactions will Increase. This is positively affecting the Indian Economy.
  • There is big fall in terrorism activities in Jammu and Kashmir is biggest demonetisation advantage.
  • There will be proper cash in the banks and condition of bank will be going better off.
  • Big Amount of Black money is kept by the government Authorities.
  • All Black Marketers and Corrupt officers are in Threat will be advantages of Demonetization.

So above were the pros and cons of demonetisation. I will keep you update with the impact of demonetization regularly. 

Comment and Share the Post for regular Updates on Demonetization

Also Read
Latest News and Updates on GST Rates

Demonetisation Policy Steps and Updates 

1 comment:
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  1. There are always pros and cons of every thing. so there may be some problems in demonetisation but after effects will be good.


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