Question

What impact did demonetization have on corruption in society?

Answer 1

Answer:

Demonetization is the act of stripping a currency unit of its status as legal tender. It occurs whenever there is a change of national currency: The current form or forms of money is pulled from circulation and retired, often to be replaced with new notes or coins.

Answer 2

Impact  of Demonetization on corruption

Explanation:

• Black money has been a necessary part of the Indian story. Plaguing condition of corruption is constantly blamed for every one of the ills tormenting India. Surprise demonetisation of high worth cash notes has been hailed as an extreme advance against black money and corruption in India.

• Of the Rs 15.41 lakh crore worth Rs 500 and Rs 1,000 notes available for circulation on November 8, 2016, when the note ban was declared, notes worth Rs 15.31 lakh crore have been returned. This implied just Rs 10,720 crore of the trashed money didn't come back to the banking system.