Demonetisation & possible alternatives of going cashless in India

Abstract

Demonetisation is the act of stripping a currency unit of its status as legal tender. It occurs whenever there is a change of national currency: The current form or forms of money is pulled from circulation and retired, often to be replaced with new notes or coins. Sometimes, a country completely replaces the old currency with new currency. The purpose of this paper is to analyze the Demonetisation in India and possible alternatives of going cashless in India.

Key words: Demonetisation, currency, Credit & Debit Card, Banks