Demonetization move in India: a conceptual study

Deepa Jain, K.S. Thakur and Manoj Kumar Dash

Journal of Money Laundering Control, 2020, vol. 23, issue 4, 863-869

Abstract: Purpose - The purpose of this paper is to explore the real causes of demonetization drive and the future path created by the drive. Design/methodology/approach - The study started with a conceptual understanding of the demonetization drive in India and ended with a future impact analysis. For exploring the concept, the authors reviewed various articles, government and corporate reports as well as studies published in newspaper and available online. Findings - The study revealed that demonetization is a success in terms of cashless path created to eradicate corruption but a failure in terms of disruption caused in the economy. Thus, appropriate measures could be taken by government to make this daunting step successful in the long run. Research limitations/implications - The study is limited only to demonetization concept based on secondary data. Future work may be done keeping in view more empirical data to know the effectiveness of the demonetization drive along with other parameters. Originality/value - To the best of researchers’ knowledge, no study tried to uncover the strong reasons behind the demonetization move. The study extends the literature by exploring the real causes and impacts of the demonetization drive through a conceptual lens.

Keywords: India; Demonetization; Cashless; Fake currency (search for similar items in EconPapers)
Date: 2020
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Persistent link: https://EconPapers.repec.org/RePEc:eme:jmlcpp:jmlc-12-2019-0100

DOI: 10.1108/JMLC-12-2019-0100

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