Demonetization essay in telugu
From: Chris J.
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Demonetization is the process of devaluing a piece of currency to zero. In other words, changing the value of a particular denomination of currency to nil. Making it a piece of paper with absolutely no value greater than a regular piece of paper. We can judge the decision of Demonetization by the Government based on the industries that get affected the most by it.
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Essay One Day: Short essay on demonetization free revision included!
Anwesha Ghosh. Prime Minister Narendra Modi declared that and 1, rupee notes of the Mahatma Gandhi Series were not any more legal tender. Individuals were given 50 days to deposit them in bank accounts or to exchange them for new notes at banks. The Prime Minister stated that evacuation of black money was sole point behind this progressive procedure. Demonetization of currency means discontinuity of the particular currency from circulation and replacing it with a new currency. In the current context it is the banning of the and denomination currency notes as a legal tender.
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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 The currency unit that has been demonetized is withdrawn from circulation. During the implementation of this policy, the currency unit that has lost its status as a legal tender is deposited with the banks or other authorized financial institutions and replaced with units that still have legal tender status.
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