ranjan

Demonetization has been implemented thrice in India - in 1946, 1978 and in 2016.  In 1946, the currency note of Rs.1,000/- and Rs.10,000/-were removed from circulation.The ban did not have much impact, as the currency of higher denomination was not accessible to common people. However, both the notes were reintroduced in 1954 with an additional  introduction of Rs.5,000/- currency. The second currency ban came in 1978 when currencies of  Rs.1,000, Rs.5,000/- and Rs.10,000/- were taken out of circulation. The sole aim was to curb black money generation in the country. It didn't have much effect on the people and effected only the privilege few while the ban in 2016 has shaken the whole country.  In 2016, the objectives and the outcomes of the Demonetization were:     -To plug financing of Terrorists.    -To help unearth black money - will expand the fiscal space of the Government.    -To help reduce interest rates in the banking system.    - To help formalize India's informal ec