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It indeed was, the reserve bank of India data analyzers showed that Demonetization didn't help clear out most of the black money in India. While Narendra Modi the honorable prime minister of India currently has said that it will remove all the black money and corruption in India. But sadly this didn't happen. I'm glad that the Indian Prime Minister had a great vision. But there are some rumors being spread saying that: " Demonetization of 500 and 1000 rupee notes was only meant for people to suffer" I am not agreeing or disagreeing with this statement. All I can say is that demonetization was a big failure in India.
What else can I help you with?
Which are the failure products launched in India?
leather
White revolution success and failure in India?
yes it is
What is the achievements and failures of economic planning in India?
ACHIEVEMENT AND FAILURE of economic planning in india?
Why SAARC becomes failure?
mainly India and Pakistan problem
Boost Business Sales?
Over the past decade, India saw two events that practically brought cash sales for businesses to a standstill. The demonetization at the end of 2016 and the Coronavirus pandemic with the onset of 2020 brought down cash payments significantly.
Who was the consultant you the merger of Air India and Indian airlines?
Accenture Consulting, & It was big failure...
Who led the Quit India Movement in 1942?
The failure of Cripps Mission.
Which event according to you have been significant for India in the last decade?
The implementation of the Goods and Services Tax (GST) in India in 2017 has been significant as it unified the country into a single market and simplified the tax structure. Additionally, the demonetization of high-value currency notes in 2016 had a major impact on the Indian economy by targeting black money and promoting digital transactions.
When and why and where did Mother Teresa die?
She died of heart failure in Calcutta, India, on September 5, 1997.
When did Vajramuni die?
Vajramuni died on January 4, 2005, in Bangalore, Karnataka, India of kidney failure.
When did Jankidas die?
Jankidas died on June 8, 2003, in Mumbai, Maharashtra, India of cardiac failure.
What is the removal of currency called?
The removal of currency from circulation is often referred to as "currency demonetization." This process involves declaring a specific currency note or coin as no longer legal tender, forcing individuals and businesses to exchange or deposit that currency before it loses its value. Demonetization is typically carried out by governments to combat issues like inflation, corruption, or to replace old currency with new designs.
