“A STUDY: THE IMPACT OF CURRENCY DEMONETIZATION
(2016) ON CASHLESS ECONOMY IN INDIA”
A Project Submitted to
University of Mumbai for partial completion of the degree of
Bachelor of Management Studies
Under the Faculty of Commerce
By
AZMATUNNISA ANSARI SULTAN AHMED
Under the Guidance of
C. A PRITI A. PARIKH
SYDENHAM COLLEGE OF COMMERCE AND ECONOMICS
B ROAD, CHURCHGATE, MUMBAI-400020.
Academic Year
2019-2020
“A STUDY: THE IMPACT OF CURRENCY DEMONETIZATION
(2016) ON CASHLESS ECONOMY IN INDIA”
A Project Submitted to
University of Mumbai for partial completion of the degree of
Bachelor of Management Studies
Under the Faculty of Commerce
By
AZMATUNNISA ANSARI SULTAN AHMED
Under the Guidance of
C. A PRITI A. PARIKH
SYDENHAM COLLEGE OF COMMERCE AND ECONOMICS
B ROAD, CHURCHGATE, MUMBAI-400020.
Academic Year
2019-2020
SYDENHAM COLLEGE OF COMMERCE AND ECONOMICS
B ROAD, CHURCHGATE, MUMBAI-400020.
Certificate
This is to certify that MS. AZMATUNNISA ANSARI SULTAN AHMED has
worked and duly completed her Project Work for the degree of Bachelor of
Management Studies under the Faculty of Commerce in the subject of FINANCE
and her project is entitled, “A STUDY: THE IMPACT OF CURRENCY
DEMONETIZATION (2016) ON CASHLESS ECONOMY IN INDIA” under
my supervision.
I further certify that the entire work has been done by the learner under my
guidance and that no part of it has been submitted previously for any Degree or
Diploma of any University.
It is his own work and facts reported by his personal findings and investigations.
C. A PRITI A. PARIKH
Project Guide
Date of Submission:
Declaration
I the undersigned MS. AZMATUNNISA ANSARI SULTAN AHMED here by,
declare that the work embodied in this project work titled “A STUDY: THE
IMPACT OF CURRENCY DEMONETIZATION (2016) ON CASHLESS
ECONOMY IN INDIA”, forms my own contribution to the research work carried
out under the guidance of C. A PRITI A. PARIKH is a result of my own research
work and has not been previously submitted to any other University for any other
Degree/Diploma to this or any other University.
Wherever reference has been made to previous works of others, it has been clearly
indicated as such and included in the Bibliography.
I, here by further declare that all information of this document has been obtained
and presented in accordance with academic rules and ethical conduct.
AZMATUNNISA ANSARI SULTAN AHMED
Student Researcher
Certified By:
C. A PRITI A. PARIKH
Project Guide
Acknowledgement
To list who all have helped me is difficult because they are so numerous and the
depth is so enormous.
I would like to acknowledge the following as being idealistic channels and fresh
dimensions in the completion of this project.
I take this opportunity to thank the UNIVERSITY OF MUMBAI for giving me
chance to do this project.
I would like to thank my principal, Dr. SANGITA PAKDE for providing the
necessary facilities required for completion of this project.
I take this opportunity to thank our coordinator Dr. JHARNA KALRA, for her
annual support and guidance.
I would also like to express my sincere gratitude towards my project guide
C. A PRITI A. PARIKH, whose guidance and care made the project successful.
I would like to thank DR. BABASAHEB AMBEDKAR LIBRARY,
SYDENHAM COLLEGE for having provided various reference books and
magazines related to my project.
Lastly, I would like to thank each and every person who directly or indirectly
helped me in the completion of the project especially my Parents and Peers who
supported me throughout my project.
INDEX
Chapter No. Title of the Chapter Page No.
CHAPTER No. 1 Introduction
1.1 Meaning of Demonetization 1-2
1.2 History of Demonetization 3-4
1.3 Need for Demonetization 4
1.4 Demonetization in India
1.4.1 History 4
1.4.2 Demonetization of 1946 4-5
1.4.3 Demonetization of 1978 5
1.4.4 Demonetization of 2016 5-6
1.5 Impact of Demonetization 7-8
1.5.1 Political Impact 8
1.5.2 Social Impact 9
1.5.3 Economic Impact 10
1.6 Reason why Indian Economy should 11
go Digital
1.7 Cashless Economy in India 12-14
1.7.1 Benefits of Cashless Economy 14-15
1.8 Black money and Demonetization 15-16
1.9 Legal facts about Demonetization in 16
India
1.10 Indian Economy since 17
Demonetization
1.11 India, a tax Non-Compliant society 18
CHAPTER No. 2 Research Methodology
2.1 Definition 19
2.2 Types of Research 19-21
2.3 Purpose of Research/Study 21
2.4 Problem Statement 22
2.5 Scope of Study 23
2.6 Objective of Study 24-25
2.7 Hypothesis 25-26
2.8 Research Methodology 26
2.9 Research Design 27
2.10 Sample Technique 28
2.11 Universe of Study 28
2.12 Sample Size 28-29
2.13 Sample Unit 29
2.14 Limitations of Study 30
CHAPTER No. 3 Review of Literature
3.1 Review of Research/Study 31-39
3.2 Review of Books 40-41
CHAPTER No. 4 Data Analysis and Interpretation
4.1 Primary Data Analysis 42-50
4.2 Secondary Data Analysis 51-59
CHAPTER No. 5 Conclusion 60-68
CHAPTER No. 6 Recommendations and Suggestions 69-73
