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Demonetization means cease of any currency unit as a legal tender by a country. On 8 November 2016, the prime minister of India, Narendra Modi made this announcement at 8 PM via a live telecast addressing people of India. As per the announcement, all the Rs500 and Rs1000 currency of Mahatma Gandhi series ceases to be legal money tender effective from 9 Nov, 2016.This news spread as fire throughout the country with people having different reactions. India is not the only country announcing demonetization. In past, many other countries have also implemented it. Pakistan: This step was taken in Pakistan on June 2015.Currency notes of 5 and 500 seized their effectiveness .People of Pakistan were given a time period of 18 months to exchange the old currency .All the old currencies have been declared null post 1 Dec 2016.Step was taken to eradicate the roots of black money from country.
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Demonetization is the financial step in which a currency unit’s status as a legal tender is declared invalid. Such withdrawal of money will have considerable deflationary impact. It will help RBI to keep inflation within targeted inflation Band. The effects of demonetization are short term and long term in nature. The immediate effects can be seen as there arose liquidity crunch in the market, banks are not able to make payments and exchange cash in respect to prescribed limit completely. Tips to take care of your Trade Show Displays - Blue Displays. Exhibiting at trade show requires a lot of investment and we want to get most out of it.
Trade show displays being the most expensive, demands extra care and maintenance. Being in the trade show display business, we get to hear lot of complaints regarding lost and damaged parts. Usually this happens because of carelessness and negligence, but with proper care such damage can be prevented leading to save you money and time in long run. Use a carrying case Mostly trade show displays come with a shipping case but they are not suitable for long run. Positives and Negatives Of Demonetization - TaxReturnWala. The demonetization of Rs. 500 and Rs. 1000 banknotes was a step taken by the Government of India on 8 November 2016, ceasing the usage of all ₹500 and ₹1000 banknotes of the Mahatma Gandhi Series as a form of legal tender in India from 9 November 2016.
The announcement was made by the Prime Minister of India Narendra Modi in an unscheduled live televised address to the nation at 20:15 Indian Standard Time (IST) the same day. In the announcement, Modi declared circulation of all Rs. 500 and ₹1000 banknotes of the Mahatma Gandhi Series as invalid and announced the issuance of new ₹500 and ₹ 2000 banknotes of the Mahatma Gandhi New Series in exchange for the old banknotes. The economic implications of demonetization are many and yield mixed results .It is rather difficult to predict the impact of demonetization on the economy For the hazards this move Is causing to people its just a matter of a short period of time its a planted tree which will bear fruits in the near future.
Short term & long term impact of Currency Demonetization. The demonetization effort being led by PM Modi in India is appreciable to an extent but follows positive as well as negative aspects.
The aim is to wash the stock of “black money” out of the economy and get it into the banked and taxable part of the economy. “Cleaning of the black money is a very positive step. However, certain things will happen as a result of this. Transactions will now begin to move to white economy through the banking system which means there will be surge in bank deposits. Even savings in terms of deposits will go up.” Many renowned personalities like politicians, businessman, and so on have huge reserves of black money either in India or abroad.
Though this move causes some difficulties for the common people because banks and post offices do not have sufficient amount of cash. The sudden stop in the availability of currency has led to a liquidity shock to the people in the nation. How To Spot A Perfect Location For Your Trade Show Booth - Bluedisplays. Exhibiting in a trade show?
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