Tag Archives: Indian Economy

Demonetization of High Denomination Currency Notes and its Impact on the Indian Economy – How Effective will it be to curb Black Money Circulation in India?

On November 8th, 2016, Government of India announced its decision to demonetize or ban old currency notes of INR 500 and INR 1,000 in circulation.  This move was taken to curb “black money and counterfeit notes used by terrorist organizations for illegitimate activities” in the economy.  These two currency notes account for 86% of all the currency in circulation. The move to demonetize High Denomination Currency notes has massively impacted lives of almost every Indian according to the Read more [...]