Essay on Demonetization

Essay for U.P Board Exam and others Essay on Demonetization Demonetization is a process in which a currency unit is no longer consider as a legal tender, and a newer version replace it. Summary: Every country follow this way it is a way from which government of across the world has used to stop the fake currency and illegal trade. While some countries were successful, others failed in their goals behind demonetization. Demonetization in India: On November 8 th , 2016 Prime Minister Mr. Narendra Modi, announced that the currency of Rs 500 and Rs 1000 are only paper pieces it would not use in currency. Impact of Demonetization: Demonetization has played two rules – Negative and positive. It was very painful for farmer, illiterate and rural area more because rura...