Abstract
Demonetization can be said as a Surgical Strike on black money. It can also be said as ‘Swachha Bharat Initiative’ in the terms of making India free from the garbage of black money. Black money sows the seeds of corruption and money laundering in many sectors. It leads many social, unethical and economic struggles, helps in funding of terrorism, affects real estate and funds illegal activities in the country. To demolish black money and flush out fake currency, the step of ‘Demonetization’ was taken by the government of India thrice. The last demonetization was announced by the Prime Minister Sh. Narendra Modi at 8:17PM on Nov8, 2016. Currency notes of Rs.500 and Rs.1000 denominations were ceased to be legal tender from midnight that day. It was an attack on black money holders.
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