Advantages Of Demonetization Of Currency

system will be challenged and a positive outlook on life and health is imperative. In this paper

A law has passed in 1764 known as the Currency Act to resolve the currency scarcity and lack of proper economic structure. It is design to illegalize any new model dollars, not even reprint already used money. Additionally, it simply demolishes the colonial cash by having a more “hard currency” network using pound sterling. A huge repercussion occur, when there is a massive trade deficit and it only made the overall economy much more dire. This policy not only damages the merchant, but it also did not financial help the British troop to get the economic resources they need.

It is well-known fact that near about 86 percent currency circulation in India was composed of 500 and 1000 currency notes. And demonetization of these notes made people deposit their money which was in the form of 500 and 1000 Rs notes into the banks. RBI had declared Bank had received Rs 5.12 trillion worth of deposits until 18th November. This deposit of money can boost Indian GDP by 0.5 to 1.5 percent.

The internet has allowed the money market to operate 24 hours a day. It has been noted however that exchange rate volatility has increased,[v] which makes it more difficult for the government to set monetary policy.

This critical review will first provide a summary of the arguments put forth by the author, and then provide a critical analysis of the same in context of the article’s persuasiveness.

In this article we shall try to come to a conclusion about how beneficial or

One of the major drawbacks for ICICI bank is that it charges very high service taxes for the services provided by the bank as compared to other banks. This makes the bank facilities viable only for higher class. As a result, the middle and bottom economic classes, which are a major chunk of population in India, are being left out

We take the position that digital currencies are a fad. As argument, we try to clarify the definition of currency in general and explain what a "digital currency" really mean. Than we examine the arguments for the digital currencies and at the end we present the evidences of perils of digital currency.

This can be used by the government to revitalize the economy and drive growth in the long run without impacting inflation. Secondly, it will act a warning shot to all the people with illegally acquired wealth to shut shop and start doing things the right way for it may not be worth to amass wealth again to lose it to a similar policy in the future. Third, it will put an end to the politician-bureaucrat-criminal nexus which thrives on black money. And last but not the least, the elimination of counterfeit currency has already dealt a heavy blow to terrorism (including Maoist violence) in the

The possibility of the value that is fluctuated by the gold must be only by little percentage whether it is up or down. So, it is not attainable to devalue the gold by higher percentage. From this level, the gold dinar currency can be known as a good currency in international trade between the nations. If we have been using gold as our currencies against the traded products in the market, then there will be no such a problem regarding to the exchange rate. The using of the gold dinar is not intended to be used as a currency for our daily transaction but we can be used this for the national currencies. I found that this system have a good combination of few factors that will boost from any economic turbulence thus gives a lot of opportunity towards business sector in the international trade. By having the gold dinar system, the trades of bilateral and multilateral among the other countries can be straightening out thereby to eradicate the foreign exchange risk. For this mode, gold is to be utilized as a unit of account and a medium of trade rather than the national monetary

Secondly, the banking system will advance as it will slowly head towards a cashless society. Cashless society will increase credit access and financial insertion. The existing white money of people will be known to the government and it will remain with banks so that it can be put on loan, and interest can be spawned from it with a corresponding fall in Inflation.

The country of India has been home to some of the brightest and most influential people to ever walk this planet. However, they are still an ever evolving and developing country finding its footing in establishing themselves as a global power as well as developing internally. Many domestic problem exist, having grown and evolved from the foundation of India. Their issues consist of gender inequality, religious intolerance, economics, international relations, as well as corruption. Those are only some of the many problems which they face. As with many developing countries, India has a predominant issue when it comes to poverty. In August of 1947, Jawaharlal Nehru, the country’s first prime minister, wrote the national document, “A Tryst with Destiny”. In the document he states, “The future beckons to us. Whither do we go and what shall be our endeavor?...to fight and end poverty and ignorance and disease and inequality of opportunity...which will ensure justice and fullness of life to every man and woman.” To put the idea in perspective, it was written sixty-eight years ago at a transitional point in the countries history when they were granted freedom and independence from the oppressive rule of Great Britain. In this address, Nehru set forth his rule with many lofty goals that have yet to come to fruition. While it can’t have been expected that all these goal would be fulfilled, Nehru showed the country where they need to go in order to prosper into a great nation. This was

In an attempt to reduce black money, Prime minister Narendra Modi has withdrawn two major currency denominations – Rs 1000 and Rs 500 notes. This change has resulted in a boost in digital means of transactions. At the same time there are a lot more ramifications for the larger public.

The Andhra Bank is one most familiar and leading bank in the country of India and it was established by the well-known autonomy fighter and a multifaceted genius, Dr.Bhogaraju Pattabhi Sitaramayya. The Bank was registered on 20th November 1923 and commenced commerce on 28th November 1923 with a paid up capital of Rs1.00 lakh and a certified capital of Rs10.00 lakhs. away from each other from usual banking services and solutions, Andhra Bank has introduced some striking services such as AB Premium present Account and AB Privilege Corporate Salary Savings Bank Account with additional reimbursement to the consumers. Also, the bank has launched AB Saral Housing Loan system featuring housing loans up to Rs. 20 Lacs Andhra Bank has as well amalgamated with a variety of economic institutions similar to Kotak Mahindra, Birla Sun Life Mutual Fund, Reliance, and Fidelity Mutual Fund, supplementary them in sales of their shared finance products. The bank has also signed a communication of Understanding with Maruti Suzuki Ltd. for financing 4 wheeler vehicles. Andhra Bank is the first bank in India to encompass launched mobile biometric ATMs. These ATMs stop at predestinated sites, and in its place of inward bound the individual recognition number (PIN), the consumers contain to match their fingerprints with their recorded fingerprints in the bank record. This has enabled yet the uneducated or inexpert consumers of the

Prime minister has stated that to diminish the financial source of terrorists is one of the primary reasons for the implementation of demonetization scheme. So, after the circulation of new notes, the state machineries must ensure that the new Indian currencies should