Please give me some advantages of demonetization
Answers
Below are some of the key advantages that are often associated with demonetization. Getting fake currency out of circulation: Demonetization can also be used to get fake currency out of circulation in a country's economy since such currencies cannot be deposited in banks and other financialinstitutions.
Demonetization is the process in which a certain currency circulating in economy of a country is ceased to be recognised as a legal tender.
A few Advantages of Demonitization are:
● It helps to control the phenomenon of Inflation in a country which means the rise in price of a certain commodity due to its rise in demand or vice versa. So, Demonitization helps in controlling situation of inflation.
● It also is helpful in controlling the circulation of fake currency in the country. Circulation of fraud currency is really harmful for the econy of a country and Demonitization helps to control it.
● It is also helpful in shifting to the use of e-money which is a step towards becoming a developed country and is also helpful in protection of environment.