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Final File - Compressed.Pdf Copyright © PIMG, Gwalior, M.P. All rights reserved. No part of this publication may be reproduced or transmitted, in any form or by any means, without permission. Any person who does any unauthorized act in relation to this publication may be liable to criminal prosecution and civil claims for damages. Disclaimer: The views expressed in the articles are those of the Authors/Contributors and not necessarily of the publisher. Authors/Contributors are themselves responsible for any kind of Plagiarism found in their articles and any related issues. First Published, 2019 (E- Book) ISBN: 978-93-86608-89-5 BHARTI PUBLICATIONS 4819/24, 3rd Floor, Ansari Road, Darya Ganj New Delhi-110002 Ph:- 011-2324-7537 E-mail: [email protected], [email protected] Website: www.bhartipublications.com CONTENTS Impact of Demonetization on Indian Economy 1.Gourav Saxena, 2. Gaurav Kumar Effect of Macro-Economic Variables on Economic Growth 1.Anuja Sharma, 2. Mohammad Arshad, 3. Swaril Mathur A Sector Wise Analysis of Working Capital Management and Profitability of NSE Listed Manufacturing Companies in India 1.Abhay Singh Chauhan, 2. Gurpreet Kaur Relationship Between Profitability and Capital Adequacy of Private Sector Banks in India 1.Abhay Singh Chauhan, 2. Himani Saxena, 3. Mohini Bhadauriya M- Banking Services & Customer Satisfaction 1.Vibha Shukla, 2. Priya Ojha, 3. Pooja Sengar Effect of Demonetization Over Stock Prices in India 1.Abhay Singh Chauhan, 2. Dr. Tarika Singh, 3. Priyanka Sisodia Impact of FDI and Capital Formation on Economic Growth 1.Sheetal Kumari, 2. Himani Saxena The Demonetization Decision and the Reaction of Stock Market Returns: The Pre & Post Study of BSE Index 1.Deepali Gupta Shivhare 2.Prashant Sharma, 3. Anjali Pandey Impact of Monetary Policy on Gross Domestic Product(GDP) 1.Suvidha Tripathi, 2. Kartik Parashar,3. Vikash Kumar Mishra, 4. Himani Saxena Relationship Between NSE Returns and GDP 1.Harvinder Kaur, 2. Payal Pachori Relationship Between Gold Price and Foreign Exchange Rates: After Demonetization 1.Avantika Singh Sengar, 2. Shirish Gupta, 3. Deepak Bharani The Effect of Trust on Customer’s Adoption of Internet Banking 1.Dr. Garima Mathur, 2. Abhijeet Singh Chauhan, 3. Kajal Sharma Consumer Perception Towards the Usages of Debit Card: A Study of Gwalior Region 1.Shivani Agrawal, 2. Sonal Agrawal, 3. Pooja Jain Impact of Working Capital Management on Profitability: - A Study of Hotel Industry in India 1.Dr. Nandan Velankar, 2. Harsha Khatri, 3. Payal Bansod A Study on Correlation Between Factors of Website Attributes 1.Pooja Jain, 2. Dr. Sneha Rajput, 3. Mahima Chack, 4. Simran Sengar, 5. Ushma Singh, 6. Mayank Singh Gaur Internet Banking Practices and Customer Satisfaction Level 1.Sayeda Rizvi, 2. Meenakshi Gupta Demonetisation and Cashless Economy 1.Miss Shreya Arora, 2.Dr. Minakshi Gupta Basic Concepts and Features of Goods and Services Tax in India 1.Sonal Dawra Role of Training and Development in Employees Progress 1.Miss Kirti Sharma, 2.Dr. Minakshi Gupta A Comparative Study of E-Banking Performance with Special Reference to SBI and ICICI Bank 1.Monika Kaushik 2. Dr. Minakshi Gupta Women Empowerment in India: Role of Higher Education 1.Sakshi Chauhan, 2.Dr. Minakshi Gupta Investigating the Outcome of Pradhan Mantri Jan Dhanyojana (PMJDY) on Economic Well Beings of the People with Special Reference of Madhya Pradesh 1.Bhuvanesh Kumar Sharma, 2. Pooja Jain India in the Phase of Demonetization 1.Gunjan Dwivedi, 2. Archana Jadon, 3.Dr. Subeer Banerjee Green Banking: An Environmental Initiative by Financial Sector 1.Archana Jadon, 2. Gunjan Dwivedi, 3.Dr. Subeer Banerjee Prediction of Future Trends with The Help of Technical Analysis 1.Akshay Kothari Firm Structure and Corporate Earnings: A Study of Nse Listed Company 1.Rajshree Sharma, 2. Jyoti Kumari A Study on Enrollment Procedure for The Registration of GST (Goods and Service Tax) By Existing Taxpayers in India 1.Dharmendra Singh Chahar, 2. Gayatri Rathore Impact of Demonetization on Net Assets Value of Selected Mutual Funds in India 1.Gourav Saxena, 2. Gaurav Kumar, 3. Ritu Gupta Agricultural Marketing in India: Its Prospects & Challenges 1.Ms. Shravasti Jain, 2.Dr. Tapasya Julka Mahotra Green Banking: Prospects and Problems 1.Mr. Deepak Singh A Study of Selected Macroeconomic Variables on Current Account Deficit 1.Dr. Nandan Velankar, 2. Brijpratap Singh, 3. Parth Singh Rajput Impact of Sectorial Growth on GDP 1. Dr. Nandan Velankar, Deeksha Sharma, Rashmi Trivedi and Shalini Singh Contributor List Abhay Singh Chauhan Abhijeet Singh Chauhan Akshay Kothari Anjali Pandey Anuja Sharma Archana Jadon Avantika Singh Sengar Bhuvanesh Kumar Sharma Brijpratap Singh Deeksha Sharma Deepak Bharani Deepak Singh Deepali Gupta Shivhare Dharmendra Singh Chahar Garima Mathur Gaurav Kumar Gayatri Rathore Gourav Saxena Gunjan Dwivedi Gurpreet Kaur Harsha Khatri Harvinder Kaur Himani Saxena Jyoti Kumari Kajal Sharma Kartik Parashar Kirti Sharma Mahima Chack Mayank Singh Gaur Meenakshi Gupta Minakshi Gupta Mohammad Arshad Mohini Bhadauriya Monika Kaushik Nandan Velankar Parth Singh Rajput Payal Bansod Payal Pachori Pooja Jain Pooja Sengar Prashant Sharma P ri ya Oj ha Priyanka Sisodia Rajshree Sharma Rashmi Trivedi Ritu Gupta Sakshi Chauhan Sayeda Rizvi Shalini Singh Sheetal Kumari Shirish Gupta Shivani Agrawal Shravasti Jain Shreya Arora Simran Kaur Sneha Rajput Sonal Agrawal Sonal Dawra Subeer Banerjee Suvidha Tripathi Swaril Mathur Tapasya Julka Mahotra Tarika Singh Ushma Singh Vibha Shukla Vikash Kumar Mishra Impact of Demonetization on Indian Economy Gourav Saxena* Gaurav Kumar* *Student, B.B.A , Prestige Institute of Management Gwalior Abstract Demonetization was targeted towards tackling black money, corruption and terrorism and the cash that would be extinguished would be “black money” and hence, should be rightfully extinguished to set right the perverse incentive structure in the economy. A couple of months after India’s 70th Independence Day, Prime Minister Narendra Modi launched a surprise attack on Indians which means that Indians, who had stock of notes with the denomination of Rs 500 and Rs 1000 were suddenly strapped for cash as they could not use the amount anywhere. Therefore, it is imperative to evaluate the short run and medium-term impacts that such a shock is expected to have on the economy. Further, the impact of such a move would vary depending on the extent to which the government decides to remonetise. This paper elucidates the impact of such a move with its positive and negative areas. Introduction Demonetisation is a process by which a series of currency will not be legal tender. The series of currency will not acceptable as valid currency. The same thing happens with the Rs. 500 and Rs. 1000 note demonetization. There can be many causes of demonetisation in any economy like introduction of new currency ,black marketing, currency storage, corruption and others. Excess of fake currency in the economy is one of the main reason of demonetisation. Prime Minister Narendra Modi on 8th November 2016 launched a surprise attack on Indians when he out of the blue announced that all notes of Rs 500 and Rs 1000 would be pulled from the market right from the stroke of midnight and the issuance of new 500 and 2,000 banknotes of the Mahatma Gandhi New Series in exchange for the old banknotes. This meant that Indians, who had stock of notes with the denomination of Rs 500 and Rs 1000 were suddenly strapped for cash as they could not use the amount anywhere. The purpose of action was to fight terrorism funded by counterfeit notes. The Reserve Bank of India stipulated a window of fifty days until December 30, 2016 to deposit the demonetised banknotes as credit in bank accounts. Black Money In India, black money refers to funds earned on the black market, on which income and other taxes have not been paid or which is the proceeds of criminal activity such as bribery, kick backs and corruption. The total amount of black money deposited in foreign banks by Indians is unknown. Demonetization may wipe out the present stock of black money held in cash from the economy but cannot eliminate the ill-gotten wealth converted into assets such as gold and real estate. However, the industry body has suggested measures like lowering stamp duty on property transactions to tackle the menace. It is very difficult to separate black money from white money because distinction is not once- and-for-all. At one stroke the Prime Minister has choked the supply of black money stacked inside the country. Of the Rs 17 lakh crore of total currency in circulation in the country, black money is estimated at mind-boggling Rs 3 lakh crore. Black money is nothing but a plunder of the nation. Black money operators run a parallel economy which shakes the very foundation of the Indian economy. With Modi’s demonetisation move, all domestic black money will either be deposited into the banks with heavy penalty or be simply destroyed. Demonetization History and Background In India This is not The First time When Indian Currency is Demonetized In India. The first instance was in 1946 and the second in 1978 when an ordinance was promulgated to phase out notes with denomination of Rs 1,000, Rs 5,000 and Rs 10,000. The highest denomination note ever printed by the Reserve Bank of India was the Rs 10,000 note in 1938 and again in 1954. But these notes were demonetized in January 1946 and again in January 1978, according to RBI data. Rs 1,000 and Rs 10,000 bank notes were in circulation prior to January 1946. Higher denomination banknotes of Rs 1,000, Rs 5,000 and Rs 10,000 were reintroduced in 1954 and all of them were demonetized in January 1978. The Rs 1,000 note made a comeback in November 2000.
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