Demonetization and Its Effects - Short Essay 1. Demonetization means the withdrawal of existing currency in the form of notes or coins, and issuing new notes or coins in its place. It is the process of invalidating the value of currencies in circulation. The currency loses its valid tender and they are no longer accepted by the sellers in exchange of the goods sold. For … [Read more...] about Short Essay on Demonetization and Its Effects – 3 Essays
What is the Meaning of Demonetization?
Demonetization refers to an economic policy where a certain currency unit ceases to be recognized or used as a form of legal tender. In other words, a currency unit still loses its legal tender status as a new one comes into circulation. The government can take such decisions to stop the circulation of a denomination of notes or coins in the economy. The currency unit that … [Read more...] about What is the Meaning of Demonetization?
Demonetization: Advantages and Disadvantages of Demonetization
What is demonetization? Demonetization occurs when a particular type of currency is withdrawn from circulation. In such a situation, the demonetized currency ceases to be recognized as a legal tender. Demonetization means stopping a form of currency from being legal tender. That means that this currency can no longer be legally used. It cannot be used to buy things and if it … [Read more...] about Demonetization: Advantages and Disadvantages of Demonetization
Demonetisation: Meaning, Advantages and Disadvantages
Meaning of Demonetisation The act to cease a currency unit or put an official stop on its status as a legal tender is known as demonetisation (alternate spelling: demonetization). Demonetisation is the process that involves a change of national currency, where old currency is replaced with new currency. The circulation of a specific currency unit is stopped, followed by the … [Read more...] about Demonetisation: Meaning, Advantages and Disadvantages
Short Paragraph on Demonetisation
Demonetisation (alternate spelling: demonetization) means withdrawing or stopping a currency denomination of its status as a legal tender. Demonetisation refers, therefore, to the process of deciding that certain coins and banknotes can no longer be exchanged for goods and services. The process of demonetisation takes the symbolic meaning and power away from a given type of … [Read more...] about Short Paragraph on Demonetisation