Long and Short Essay on Demonetization in English for.
On November 8, 2016, Prime Minister Narendra Modi announced the declaration of notes of 1000 rupees and 500 rupees in the country, which means a declaration of demonetization. RBI governor Urjit Patel also supported the government’s announcement. After this, the government brought new notes of Rs 500 and Rs 2,000 in the market.The decision to issue Rs 2000 denomination currency and withdrawal of Rs 500 and Rs 1000 currency will lead to huge challenge as most of the day to day transactions in India are centered around Rs 500 note (more than 47% of the value of notes in circulation is in Rs 500 note form).Demonetization of Currency - Merits and Demerits Demonetization of currency means discontinuity of the particular currency from circulation and replacing it with a new currency. In the current context it is the banning of the 500 and 1000 denomination currency notes as a legal tender.
Hence, the outcome of demonetization of Rs 500 and 1000 currency notes is expected to put an end to such practices. People, who had hoarded money from malicious practices, would have to deposit the older notes to the banks that will bring the entire fund to the notice of the Income Tax department and enforcement directorate.Demonetization of currency means discontinuity of the particular currency from circulation and replacing it with a new currency. In the current context it is the banning of the 500 and 1000 denomination currency notes as a legal tender.
Here is the small essay on demonstration: On the evening of 8th November 2016, Prime Minister Narendra Modi made an unprecedented speech on national television which opened the floodgates of Facebook memes and WhatsApp jokes before making way for.
