Impact of Demonetization – A Study with reference to Street Vendors

Demonetization is the progression in which a particular currency or valuable mineral is degraded as a<br> legal tender to avoid some illegal practices and also make a revolution relevant for economic welfare.<br> Demonetization happens when a particular currency is no longer in regular use within the country of origin, or<br> when a newer currency comes into circulation with the view to make regulations for better functioning. The<br> latest demonetization in India was the sudden announcement by Prime Minister of India dated 8th November at<br> 8.30 p.m. that 500 and 1,000 rupees currency notes would not be legal tender from midnight of 8th November<br> 2016. The announcement was made much after banking hour’s thus giving nobody a chance for any foul play<br> and at the same time making alternative actions to avoid public sufferings.