International Journal of Advanced Research and Development

Authors
Reshma S, Sr. Juli AD, Athira Nair TA

Abstract
Demonetization is the act of detaching a currency unit of its status as legal tender. Demonetization is necessary whenever there is a change of national currency. It also helps to wipe out the black money and black market activities. The rural areas in particular, which do not have formal sources of banking, also deal largely in cash. Demonetization also aims to boost the digital transactions in all area. While formal modes of payments such as debit and credit cards, net-banking and digital wallets should get a boost, this will take a long time to be felt simply because the proliferation of these products is still low among the middle classes and the poor, for whom cash is still the predominant mode of transactions. The government’s move is bold in its intent and massive in its measure. The primary data collected through structured questionnaire from rural people. This study shows the effect or result of demonetization among rural people.