Abstract

India is a country with cash economy. Most of the people have savings of Rs.500 in home to cope up with daily
needs and to tackle some emergency situations. On November 8th 2016, the Prime Minister Narendra Modi
declared the invalidation of Rs.500 and Rs.1000 notes as a measure to curb fake currency circulation, black
money and corruption. People were asked to deposit their old notes in banks and get new Rs.500 and Rs.2000
notes. People are struggling to get money in smaller denomination, as none of the shopkeepers neither have
change nor give change