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VOL. 3, ISSUE 1 (2018)
An impact of cash and card on civilization
Authors
Ila Sehrawat
Abstract
On 8 November 2016, the demonetization of Rs 500 and Rs 1000 currency notes was a step taken by Government of India therefore this results in stop the usage of all Rs 500 and Rs 1000 currency notes of the Mahatma Gandhi Series as type of monetary system in India from 9 November 2016. Before announcement regarding demonetization, the Indian country is money society however when announcement it had been trend of cashless civilization. The govt claimed the demonetization move as a trial to prevent counterfeiting of this banknotes allegedly used for funding terrorist act, moreover as suppression on black cash within the country. Demonetization is that the act of baring a currency unit of its standing as monetary system. In simple, the previous unit of currency should be retired and replaced with a replacement currency unit. The govt kept promise to resolve currency crisis inside 50 days from the date of announcement. As a result of it, the govt needs to introduce cashless society; Cashless society could be a society with no physical cash or less in usage of money. In cashless society the individuals use electronic mode of payment to satisfy their desires. Cashless society helps to urge transparency and simple to trace hiding and different such activities. This paper studies a few survey conducted by The New Indian categorical on post demonetization and results of survey shows that it had been tie between money and card.
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Pages:152-153
How to cite this article:
Ila Sehrawat "An impact of cash and card on civilization". International Journal of Academic Research and Development, Vol 3, Issue 1, 2018, Pages 152-153
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