POST DEMONETISATION EFFECT ON BANKING SECTOR, MICRO FINANCING INSTITUTIONS (MFI) AND JOB OPPORTUNITIES

International Journal of Management, Innovation & Entrepreneurial Research

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Field Value
 
Title POST DEMONETISATION EFFECT ON BANKING SECTOR, MICRO FINANCING INSTITUTIONS (MFI) AND JOB OPPORTUNITIES
 
Creator Vidyasagar, Kandarp
Dwivedi, Rajiv Kr.
 
Subject Demonetisation
Banking Sector
Employment Sector
Micro Financing Institution
Demonetisation
 
Description Purpose of this study: This study aims at investigating the effect of demonetisation on the major sectors of the Indian economy i.e. banking sector, micro-financing sector, and employment sector. The government of India claims demonetisation as a tool to tackle inflation, black money, corruption, crime, and terror funding, while others call it harassment attitude.
Methodology: In this regard, a survey has been done to collect data from secondary sources. Further data were analysed graphically.
Results: The study reveals that there is marginal control over black money. The financial institution RBI suffered a loss due to excess of cash collection and failed to regulate the money properly. The employment sector is affected and a good number of people lost their jobs. Also, micro-financing institutions (MFI’s) business was affected worstly.
Social Implications/Applications: The MFIs and SMEs should be promoted and provided with legal financial assistance in order to compensate for their loss so that the 30% of citizens living below the poverty line get relief.
Novelty/Originality of this study: This combined study on various sectors gives a clear picture of the effects of post demonetisation in India which can help in predicting Indian economic conditions for the years to come.
 
Publisher GIAP Journals
 
Date 2020-08-24
 
Type info:eu-repo/semantics/article
info:eu-repo/semantics/publishedVersion
"Peer-reviewed Article", "Non-refereed Book Review", "Invited Commentary'
 
Format application/pdf
 
Identifier https://giapjournals.com/ijmier/article/view/ijmier.2020.624
10.18510/ijmier.2020.624
 
Source Management, Innovation & Entrepreneurial Research; Vol. 6 No. 2 (2020); 39-44
2395-7662
 
Language eng
 
Relation https://giapjournals.com/ijmier/article/view/ijmier.2020.624/3186
 
Rights Copyright (c) 2020 Vidyasagar and Dwivedi
https://creativecommons.org/licenses/by-sa/4.0
 

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