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RESEARCH CENTRE of COMMERCE March 2017 FATIMA

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RESEARCH CENTRE of COMMERCE March 2017 FATIMA SHANLAX INTERNATIONAL JOURNAL OF COMMERCE (A Peer-Reviewed-Refereed/Scholarly Quarterly Journal with Impact Factor) Vol. 5 Special Issue 1 June, 2017 Impact Factor: 3.017 ISSN: 2320-4168 UGC Approval No: 44120 National Seminar on Impact of Demonetisation on Indian Economy RESEARCH CENTRE OF COMMERCE March 2017 FATIMA COLLEGE (AUTONOMOUS) College with Potential for Excellence, Re-accredited with ‘A’ Grade by NAAC 27th Rank in India Ranking 2017 (NIRF) Mary Land, Madurai – 625 018 FATIMA COLLEGE (AUTONOMOUS) College with Potential for Excellence, Re-accredited with ‘A’ Grade by NAAC 27th Rank in India Ranking 2017 (NIRF) Mary Land, Madurai EDITED BY Dr.T.Jeyanthi Vijayarani Associate Professor, Fatima College (Autonomous), Madurai Ms.P.Kalai Selvi Assistant Professor, Research Centre of Commerce. Fatima College (Autonomous), Madurai Demonetisation refers to the discontinuation of current currency units and replacing them with new currency units. It is a major decision and it has impact on all the citizens of the country as all the currency become a piece of paper having no value overnight unless it exchanged with the banks. The greatest advantage of demonetization is that it helps the government to track people having large sums of unaccounted cash for which no income tax has been paid. Black money is used for illegal activities like terrorism funding, gambling, money laundering and also inflate the price of major asset classes like real estate and gold. Due to demonetization all such activities will get reduced and it will take years for people to generate that amount of black money again and hence it helps in putting an end to illegal activities. The major limitation is the destruction of old currencies and printing of new currencies which involves huge costs, that is to be borne by the Government and ultimately by the people of the country. If the costs are higher than benefits there is no use of demonetisation. Another major problem is that many times this move is targeted towards black money, but there is no guarantee that demonetisation will deprive corruption. As this is a hot topic in India right now, it is necessary to discuss in length the positive and negative impact of demonetisation on Indian Economy. I appreciate the efforts taken by the Research Centre of Commerce at the right time to highlight the importance of Demonetisation among the student community so that it will reach the society through them. I suppose this effort will pave the way for many other things to be done, and I wish all success. Lovingly Dr. Sr. K. Fatima Mary Principal Fatima College PREFACE A Glimpse of Demonetisation Demonetization is the act of stripping a currency unit of its status as legal tender. Demonetization is necessary whenever there is a change of national currency. The old unit of currency must be retired and replaced with a new currency unit. The biggest benefit of demonetization is that it helps the Government to track people who are having large sums of unaccounted money on which no income tax has been paid. However, a part of people are reluctant to accept the fact that this is one of the all time best effort by Indian Government to cleanse the system. On the other hand, the other section of people accept the fact that the present difficulties are temporary and there will be a healing and benefits permanently The demonetization move comes at a time when the country is moving towards a new tax regime with the implementation of GST. Demonetization would help increase the tax net and along with GST result in reduction of black money generation. Through demonetization although the sectors like real estate , housing etc. could witness a major revolution with cash transactions getting rid of , it can further be anticipated that a new era for the real estate industry in India that would be transparent,corruption- free, organized and realistic. Simultaneously demonetization has its own impact on the common citizen, business community, service sector, investment output and employment. The proposed conference is to discuss the length of the positive and negative impacts of demonetization on Indian Economy. We thank our Secretary Rev.Dr.Sr.Francisca Flora for her prayers, wishes, blessings and constant support to achieve this endeavour. Our thanks to Rev.Dr.Sr.K.Fatima Mary, Principal, Fatima College [Autonomous], Madurai for her guidance , suggestions in organizing and conducting the seminar. Our special thanks are due to our resource persons Dr.Rajasekaran M.A., M.Phil., MBA., Ph.D., Professor- Finance, Alliance University, Bangalore, Dr.J.J.Soundararaj, M.Com., M.Phil., Ph.D., M.B.A (Mktg)., Assistant Professor, PG Department of Commerce M.V.Muthiah Govt. Arts College [W], Dindigul, Dr.R.Maria Inigo , M.C.S., B.G.L., Ph.D., Assistant Professor, Post-Graduate and Research Department of Corporate Secretaryship, Bharathidasan Govt. College for Women, Puducherry for their wonderful contribution in this National Seminar. We thank the Head and faculty members of the Research Centre of Commerce, Fatima College [Autonomous], Madurai for their unflinching support in publishing the research papers in the form of an international journal with ISSN number. We also thank the contributors of the articles who have shared their research experience which enabled us to publish a journal. We extend our heartful thanks to the sponsors for their committed timely financial support. We specially thank the support rendered by the student community in the organization of the seminar. Finally we thank Shanlax Publications Madurai who gave a shape to this journal. Editors E-mail: [email protected]. CONTENTS S. No Title Page. No 1 A Study on Impact of Demonetization on Self Help Groups in 1 Madurai City Dr.Mrs.Jacqueline Gigi Vijayakumar & Mrs.K.Dhana Shobana 2 A Study on Impact of Demonetization on Real Estate in Madurai City 6 Dr.Mrs.A.I.Auxilia Felicitas & Mrs.P.Mahalakshmi 3 A Study on the Impact of Demonetization on Common People 12 K.Abinaya & K.Sowmya 4 A Study on Impact of Demonetization in Agriculture Sector in 16 Madurai District Dr.Jacqueline Gigi Vijayakumar & K.Guru Prabha 5 A Study on Impact of Demonetization on Common Man 23 Dr.S.P.Savitha & C.Jameslyn Vithya 6 A Study on Impact of Demonetization on Hawkers and Peddlers in 29 Madurai District Dr.T.Pushpa Jothi Indra & K.Mathi Bala 7 Study on Impact of Demonetization on E-Commerce Industry 37 Dr.T.Pushpa Jothi Indra & Sr.Tresa 8 Problems Faced by Women on Introduction of Demonetization 44 Dr.C.Lucia Vanitha & Miss.S.Nandhini 9 Impact of Demonetisation on Rural Population 51 Dr.C.Lucia Vanitha & S.Sathya Priya 10 Impact of Demonetisation and Cashless Society in Indian Economy – 58 An Analysis Indian Banking Scenario M.Nirmalkumar & Dr.T.Balasaravanan 11 Bank Account number Portability is the Need of the Hour in the Era 68 of Demonetisation P.Manimozhi & Dr.R.T.Saroja 12 Off – Setting Tourism Receipts during the Period of Crisis with 82 Special Reference to Demonetization Measures T.Mariammal 13 Impact of Demonetization on Indian Economy 87 Dr.S.Nasar & Dr.S.Vimali 14 A Study on Impact of Demonetization on the Hospitality Industry 94 K.Parameswari & Dr.Sr.Bindu Antony 15 A Study on Impact of Demonetisation on Retail Outlets in 100 Madurai City Dr.Mrs.B.Sahayarani Fernando & Ms.G.Rajalakshmi 16 Demonetisation - An Overview 107 K.Ramya & Dr.T.Jeyanthi Vijayarani 17 Demonetisation – A Swot Analysis 113 Mrs.S.Renugadevi & Ms.N.Seetha 18 Is Demonetisation a Boon to Digital Marketing? 119 Dr.Mrs.B.Sahayarani Fernando& Mrs.C.Joselyn Nithya 19 Impact of Demonetization on Construction and Real Estate Sector 128 Dr.Mrs.B.Sahayarani Fernando & Mrs.P.Pavithra 20 A Study on Perception of Women Entrepreneurs on Demonetisation 132 with Special Reference to Madurai City N.Sagayavani & Dr.(Mrs).S.Fatima Rosaline Mary 21 Demonetisation – A Swot Analysis 139 S.Sandra 22 Smart Banking – A New Paradigm Due to Demonetisation 143 A.Saravana Kumaran & Dr.S.Ramesh Kumar 23 A Study on Impact of Demonetisation in Hotel 155 Industry in Madurai City Dr.S.P.Savitha & D.Anitha 24 A Study on Consumer Awareness in Impact of Demonetization in 161 Madurai City Dr. S.A.Shamsudeen Ibrahim 25 A Study on Impact of Demonetization on Bank Employees – In 170 Madurai Mrs. S.Shanmugha Priya & Dr.Sr.Bindu Antony 26 A Study on the Impact of Demonetisation on Indian Economy 176 M.Tharani & Mr.R.Seeni Syed Ibrahim 27 Post Demonetization Effect on Indian Banking Sector 188 Dr.A.Thilaha Dharmarajan 28 Swot Analysis of the Demonetisation 193 Dr.V.Uma & Dr.A.Venkateswaran 29 Demonetization Malady and Turnaround on Real Estate Sector in 198 India Dr.S.Vijayalakshmi 30 A Study on the Opinion of College Students 204 Towards Demonetization S.Visalatchi & P.Ruby Leela 31 Short Term and Long Term Impact on the Indian Economy 208 Maria Celestina Ralpha 32 A Study on the Opinion of Salaried People and Hired 212 Servants towards Demonetisation Dr.R.Sorna Priya Vol. 5 Special Issue. 1 June 2017 ISSN: 2320-4168 A STUDY ON IMPACT OF DEMONETIZATION ON SELF HELP GROUPS IN MADURAI CITY Dr.Mrs.Jacqueline Gigi Vijayakumar Associate Professor, Research Centre of Commerce, Fatima College, Madurai Mrs.K.Dhana Shobana M.Phil., Scholar Research Centre of Commerce, Fatima College, Madurai Introduction The government has implemented a major change in the economic environment by demonetizing the high value currency notes – of Rs 500 and Rs 1000 denomination. These ceased to be legal tender from the midnight of 8th November 2016. People have been given upto December 30, 2016 to exchange the notes held by them.
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