Published Paper Details:

Money as a medium of exchange of goods and services has played a very important role throughout the years. Demonetization is not a new word in the history of world economy. As the word states, Demonetization has been derived from the word De-monetize which is an act of stripping a currency from its legal status.It occurs when due to any reason, there is a change in a national currency. The world economy first experienced Demonetization in the year 1946 followed by 1978. The reason behind the past activities was abolishing of notes of Rs 1000, Rs 5000 and Rs 10000 denomination. Indian economy again faced Demonetization which was initiated by present Prime Minister Mr Narendra Modi on 8th November 2016. The process started from 9th November and ended on 30th December 2016. The major reason behind the surgical implementation of this activity was to eliminate 3 kinds of money from the Indian economy- Black money, Unauthorized money and Fake money.The aftermath consequences of Demonetization which has taken place is in large scale. However the results and the conclusions drawn from different sections of the society are different along with different effects. In the current paper a detailed analysis of the effects of Demonetization on the banking sectors have been taken into consideration.