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(PDF) Effect of Demonetization on E-commerce
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Added on 2021-01-02
(PDF) Effect of Demonetization on E-commerce
Added on 2021-01-02
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To assess the influence ofdemonetization on Indian e-commerce field
Table of ContentsINTRODUCTION...........................................................................................................................1Literature Review.............................................................................................................................1CONCLUSION................................................................................................................................4REFERENCES................................................................................................................................6
INTRODUCTIONDemonetization is refer to as an act where currency is stripped out form the economy as alegal tender. This can happen when there is a change in the national currency. Thus, in this actioneither the note is discontinued or it is replaced with new currency. Demonetisation is not new asits history can be traced in the year around 1873 under The Coinage Act, of United States. In thissilver was demonetised and nation adopted gold standards. Recently, in the year 2016, IndianGovernment thought of demonetize 500 and 1000 rupee note and this was considered as one ofthe big action taken by the regulatory bodies because two biggest denominations werediscontinued as a result, 86% country's circulating cash was affected. Therefore, this assignmentis based on the analysing the impact demonetisation on e-commerce field so as to understandwhether it acted as a positive or negative manner (Agarwal and et. al., 2018). Aims and ObjectivesAim: To determine the influence of demonetisation on Indian E-Commerce field. A Case Studyon Amazon. Objectives:To analyse the concept of demonetization.To identify the influence of demonetization on E-Commerce Field. Literature ReviewConcept of DemonetizationAccording to the view points of Rajesh, (2018) Demonetization is determined as a radicalmonetary action in which tenders which are legal are declared as invalid. This generally takesplace when government of any nation make changes in their national currency. However, afterthis action old notes become null avoid and it cannot be used for further transaction in anymanner. In context with India this step was taken back in the year 1978 and denominations Rs1,000, Rs 5,000 and Rs 10,000 were discontinued. Later, on November 8, 2016, this action wasrepeated once again Prime Minister of India Narendra Modi through television address thecitizen about making Rs 1,000 and Rs 500 note made invalid. This move was taken in order toeliminate corruption and black money. Following action has created a lot of chaos amongstpeople as they had to stand for a longer period of time outside bank so as to change their notes ofRs 500 and Rs 1,000. But at the same time new notes of Rs 2,000 and Rs 500 were introduced.1
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