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August 24, 2020
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August 24, 2020
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Abstract

Purpose of this study: This study aims at investigating the effect of demonetisation on the major sectors of the Indian economy i.e. banking sector, micro-financing sector, and employment sector. The government of India claims demonetisation as a tool to tackle inflation, black money, corruption, crime, and terror funding, while others call it harassment attitude.


Methodology: In this regard, a survey has been done to collect data from secondary sources. Further data were analysed graphically.


Results: The study reveals that there is marginal control over black money. The financial institution RBI suffered a loss due to excess of cash collection and failed to regulate the money properly. The employment sector is affected and a good number of people lost their jobs. Also, micro-financing institutions (MFI’s) business was affected worstly.


Social Implications/Applications: The MFIs and SMEs should be promoted and provided with legal financial assistance in order to compensate for their loss so that the 30% of citizens living below the poverty line get relief.


Novelty/Originality of this study: This combined study on various sectors gives a clear picture of the effects of post demonetisation in India which can help in predicting Indian economic conditions for the years to come.

Keywords

Demonetisation Banking Sector Employment Sector Micro Financing Institution

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Authors retain the copyright without restrictions for their published content in this journal. IJMIER is SHERPA ROMEO Journal. 

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This is an open-access article distributed under the terms of  Creative Commons License

How to Cite
Vidyasagar, K., & Dwivedi, R. K. (2020). POST DEMONETISATION EFFECT ON BANKING SECTOR, MICRO FINANCING INSTITUTIONS (MFI) AND JOB OPPORTUNITIES. International Journal of Management, Innovation & Entrepreneurial Research, 6(2), 39–44. https://doi.org/10.18510/ijmier.2020.624
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