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notes ban in india

Effects of 500 and 1000 rupees notes ban in India

1)Effects in bank due to notes ban in India:

notes ban in india

Banks never anticipated that the legislature would be so deficiently arranged to handle the repercussions of the November 8 demonetisation choice, however they couldn’t get away from the disorder at their doorsteps in the days that took after. Going ahead, at any rate a large portion of the coming year will presumably be spent nursing the injuries dispensed on the framework. It was a striking political move without a doubt, yet one whose antagonistic effect far exceeds the publicized advantages. All things considered, who can state no if the question is “Would you like to dispose of debasement, dark cash and fake money notes by notes ban in india?” — all in one go?

A bolder move, again to do with banks, could have been to deal with the swelling awful advance wreckage. A choice to determine this would have arranged banks to fuel the economy as it assembles force. This, in any case, requires conviction that great financial matters is great legislative issues. Simply the invert of the individual conviction that Prime Minister Narendra Modi had for demonetisation: that great legislative issues would be great financial matters.(notes ban in india)

2)Effects of Notes ban on a common man:

November eighth 2016 will go down in Indian history as a red letter day. It denote the day, Indian economy moved from Black economy to white.

In what will be known as a notable, chronicled move, On November eighth, Prime Minister Narendra Modi declared the demonetization of Rs 500 and Rs 1000 money notes.

So what does notes ban in india mean for the common man?

India had been a money based economy. Almost 14 Lakh Crore Rupees is in money notes – about $220 billion worth, is held in real money notes of Rs 500 and Rs 1000. This infers the effect to Indian economy will be enormous – exceptionally immense.

 

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