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Title: :  POTENTIAL ECONOMIC AND BANKING IMPLICATIONS OF PHASING OUT ₹2000 BANKNOTES IN INDIA
PaperId: :  21628
Published in:   International Journal Of Advance Research And Innovative Ideas In Education
Publisher:   IJARIIE
e-ISSN:   2395-4396
Volume/Issue:    Volume 9 Issue 5 2023
DUI:    16.0415/IJARIIE-21628
Licence: :   IJARIIE is licensed under a Creative Commons Attribution-ShareAlike 4.0 International License.

Author NameAuthor Institute
Dr. Shipra SaxenaBundelkhand University, Jhansi, India
Sachit PaliwalBundelkhand University, Jhansi, India

Abstract

Management
Demonetization, RBI, Economy, Liquidity
As part of its "Clean Note Policy," the Reserve Bank of India (RBI) has announced the withdrawal of banknotes with the denomination of 2000, with a goal of a gradual transition until September 30, 2023. The withdrawal of the note, even though it will continue to be legal tender, is reminiscent of the 2016 demonetization, which was intended to fight black money. Its political ramifications are highlighted by the timing, which comes before state and federal elections. The 2000 note was created after demonetization to replace the gap in the money supply, however it is currently viewed as unneeded. This emphasizes monetary debasement and parallels the short life of the note. The action, in keeping with the RBI's approach, raises concerns about the morality of manipulating national currencies. The decision's impacts on the economy and banking industry may have an influence on illicit financial activity, industries relying on cash, the informal economy, digital transactions, economic growth, the banking system, counterfeiting, and public confidence. Demonetization's success depends on how well the government plans and implements it.

Citations

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IJARIIE Dr. Shipra Saxena, and Sachit Paliwal. "POTENTIAL ECONOMIC AND BANKING IMPLICATIONS OF PHASING OUT ₹2000 BANKNOTES IN INDIA" International Journal Of Advance Research And Innovative Ideas In Education Volume 9 Issue 5 2023 Page 517-523
MLA Dr. Shipra Saxena, and Sachit Paliwal. "POTENTIAL ECONOMIC AND BANKING IMPLICATIONS OF PHASING OUT ₹2000 BANKNOTES IN INDIA." International Journal Of Advance Research And Innovative Ideas In Education 9.5(2023) : 517-523.
APA Dr. Shipra Saxena, & Sachit Paliwal. (2023). POTENTIAL ECONOMIC AND BANKING IMPLICATIONS OF PHASING OUT ₹2000 BANKNOTES IN INDIA. International Journal Of Advance Research And Innovative Ideas In Education, 9(5), 517-523.
Chicago Dr. Shipra Saxena, and Sachit Paliwal. "POTENTIAL ECONOMIC AND BANKING IMPLICATIONS OF PHASING OUT ₹2000 BANKNOTES IN INDIA." International Journal Of Advance Research And Innovative Ideas In Education 9, no. 5 (2023) : 517-523.
Oxford Dr. Shipra Saxena, and Sachit Paliwal. 'POTENTIAL ECONOMIC AND BANKING IMPLICATIONS OF PHASING OUT ₹2000 BANKNOTES IN INDIA', International Journal Of Advance Research And Innovative Ideas In Education, vol. 9, no. 5, 2023, p. 517-523. Available from IJARIIE, https://ijariie.com/AdminUploadPdf/POTENTIAL_ECONOMIC_AND_BANKING_IMPLICATIONS_OF_PHASING_OUT_₹2000_BANKNOTES_IN_INDIA_ijariie21628.pdf (Accessed : 22 September 2024).
Harvard Dr. Shipra Saxena, and Sachit Paliwal. (2023) 'POTENTIAL ECONOMIC AND BANKING IMPLICATIONS OF PHASING OUT ₹2000 BANKNOTES IN INDIA', International Journal Of Advance Research And Innovative Ideas In Education, 9(5), pp. 517-523IJARIIE [Online]. Available at: https://ijariie.com/AdminUploadPdf/POTENTIAL_ECONOMIC_AND_BANKING_IMPLICATIONS_OF_PHASING_OUT_₹2000_BANKNOTES_IN_INDIA_ijariie21628.pdf (Accessed : 22 September 2024)
IEEE Dr. Shipra Saxena, and Sachit Paliwal, "POTENTIAL ECONOMIC AND BANKING IMPLICATIONS OF PHASING OUT ₹2000 BANKNOTES IN INDIA," International Journal Of Advance Research And Innovative Ideas In Education, vol. 9, no. 5, pp. 517-523, Sep-Oct 2023. [Online]. Available: https://ijariie.com/AdminUploadPdf/POTENTIAL_ECONOMIC_AND_BANKING_IMPLICATIONS_OF_PHASING_OUT_₹2000_BANKNOTES_IN_INDIA_ijariie21628.pdf [Accessed : 22 September 2024].
Turabian Dr. Shipra Saxena, and Sachit Paliwal. "POTENTIAL ECONOMIC AND BANKING IMPLICATIONS OF PHASING OUT ₹2000 BANKNOTES IN INDIA." International Journal Of Advance Research And Innovative Ideas In Education [Online]. volume 9 number 5 (22 September 2024).
Vancouver Dr. Shipra Saxena, and Sachit Paliwal. POTENTIAL ECONOMIC AND BANKING IMPLICATIONS OF PHASING OUT ₹2000 BANKNOTES IN INDIA. International Journal Of Advance Research And Innovative Ideas In Education [Internet]. 2023 [Cited : 22 September 2024]; 9(5) : 517-523. Available from: https://ijariie.com/AdminUploadPdf/POTENTIAL_ECONOMIC_AND_BANKING_IMPLICATIONS_OF_PHASING_OUT_₹2000_BANKNOTES_IN_INDIA_ijariie21628.pdf
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