On 8th November, 2016, the Indian government announced that it was banning the use of 500 and 1000-rupees currency notes from midnight.
The Indian public would have to change their banned currency notes for new ones at bank by the end of the year.
It may cause very huge effect on every filed of market like texttile bazar, diamond bazar and financial market of India. This steps of Indian government is came to be known as demonetisation, that cause immense suffering to the Indian public and damage to the Indian economy for that few months and years.
Because of this demonetisation, it affected on digital payments space in India has attracted a lot of attention. It may occurs more cashless transaction in every field.
At that time, every bussiness may affect with this huge step of government. Every people of India have trouble in changing their old notes with new one. They have to stand in line for replacing their old currency.
Aslo, It may affect on black money but not like decided goal. Only normal percentage of black money will display by people.
Khushal Kakadiya 