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Demonetization Demonetization refers to Withdrawal, often been used in the context of currency. Generally Government demonetizes the current currency being used and replace with its counterpart. The demonetized currency is no longer valid and seized to public use.

As an act to curb black money from a nation the process of demonetization is made inevitable periodically.some nations opt to slash high denominations from usage and introduce low denominations. Some nations opt to introduce new denominations disregarding the prior currency

advantages

Economic development Reduce Black money Reduce corruption Reduction on terrorist activities with regulation of black money Introduction of Digital transactions Long term benefits

 Disadvantages

Public Inconvenience Huge costs to the implementing nations change management in public Chaos in small sector Short term disturbance in all markets

References