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Research paper 1:- Effects of demonetization on retail outlets

Author: Geeta rani

Paper name: International journal of applied research

Volume: 2

Page no: 400 -401


Demonetization is a tool of Government to eliminate the currency. It is used in very adverse

situations. This paper tells about that what the post effects of demonetization on retailers are.
This paper throws light on how much problems faced by shopkeepers, how their business
effected and the effects on most popular brands sale. This paper also tells about consumers
shifting to cashless means such as paytm, internet banking etc.

1. To analyze the demonetization post effects on retailers and consumers
2. To know the trends and behavior change in consumers and shopkeepers buying..
3. To know the effects of demonetization on top brands.
4. To know the credit span of time extension or not.

The research project is analytical in nature. The research
Project is mainly based on primary data. The sample size is
50 shopkeepers in a town of 1.25 lakhs population. The
Questionnaire survey was conducted on selected
Shopkeepers based on convenience sampling method.
3.1 The findings after analyzing the data are:

 80% shopkeepers told that from 9th nov.2016 to 10.dec.2016 there was 20% increase in
their sale due to accepting the old currency but after 10th dec.2016 there was 50%
decrease in sale due to not availability of proper cash.
 The wholesalers denied to extend the credit span of time
 Shopkeepers started paytm and cheque facilities for consumers.
 70% shopkeepers had to extend the credit facilities for consumers and span of credit
 Brands like P&G, HUL, Parle, Coke demand effected only 20% due to brand loyalty.
 There has been a drop of 30% customer’s footfall.
 Spend per customer per visit drop by 40%.
 Items bought per customer 20% decreased.

3.2 Effects of demonetization on the following categories:

 Salty snacks sale decreased by 10%.
 Chocolates sale decreased by 50%.
 Biscuits sale decreased by 20%.
 Sparkling drinks sale decreased by 50%.
 Juices/fruit drinks sale decreased by 20%.
 Cigarettes sale decreased by 10%.
 Toilet soaps sale decreased by 10%.
 Hair dyes sale decreased by 10%.
 Mobile phones and pc sales decreased by 70%
 Gold sale increased by 70%
 Durable goods sale decreased by 60%
4. Conclusion
So the study shows that initially the demonetization effects on market were painful but this also
instigate the shopkeepers and consumers to adopt cashless means such as paytm, debit card use,
internet banking to buy goods. By adopting the cashless means economy will be sound in coming
time and Indian Economy will get benefits of early and hassle free transactions. Demonetization
effect will be positive in coming time for Indian Economy. Indian consumers will strives ToL
learn new ways of cashless transactions. By adopting the cashless means certainly there will be a
check on black money

Paper – 02

Paper name: International journal of advance research in computer science

And management studies.

Vol: 4 ; pg no: 47 to 54

Topic- black money in india : present status and future challenges and
demonetization .

Author: Nikita Gajjar


In the present era, issue of BLACK MONEY has come into forefront of the society with active
participation of our youth and parliament. The main aim of this research paper is to know the
present status of black money in INDIA & its future challenges. In the context of present status it
includes sources from where black money is generated and its uses in the country at different
levels. This paper represents the framework, policy options and strategies that Indian Govt.
should adopt to tackle with this issue and also describes the future challenges to be faced by
Govt. in this context. It also studies the one of the main reason behind the generation of black
money i.e. corruption. It shows up to what extent, the corruption leads to its generation which
has considerable impact on various sections of the society. At last but not least, conclusion of
this paper is provided representing the ongoing issue of black money in our country and its future
course of action. Hopefully, this would contribute to an informed approach on this issue as we
move forward in this context.


 To understand the sources of black money.

 To analyze the solution for decrease black money.
 To get idea about demonetization.
 To show the flow of black money in market.
 To know the problems of laymen with reference to black money.

What is Black Money?

As we know that in the present times, black money is used in our country up to a large extent so
it is not possible for us to define it in a very clear terms .Different people defines it in a different
way with different terms such as unaccounted income, black income, black wealth, underground
wealth, or at economy level it is known as black economy, parallel economy, shadow economy,
and unofficial economy. Therefore, all in all these terms usually refers to an income on which the
taxes are imposed by government but have not been paid.
Black Money refers to that money which is not fully legitimate property of the owner. It is
normally received in terms of cash from economic activities. I.e. Individuals who received it
must hide it, spend it on for the fulfillment of their needs.
Apart from this, the term black money would also include legal income that is concealed or hide
from public authorities:

 To evade payment of taxes which includes - income tax, excise duty, sales tax, stamp
duty, etc
 To evade payment of other governmental or statutory contributions
 To evade compliance with other laws and administrative procedures applicable in India

From where is it generated?

 It is earned through Illegal means such as drug trafficking, weapons trading, terrorism,
selling counterfeit or stolen goods etc.
 By Corruption which includes bribe given to and by public officers

From where is it used?

In INDIA it is mainly used by ministers in Elections to promote their own interests. It is also
used in air travel, land, jewellery etc.

Effects of Black Money:

 It leads to increase in inequalities of income which widens the gap between the rich and
the poor people of our country.
 It leads to wasteful consumption in our economy i.e. money which should be used for
investment but wasted at consumption.
 It leads to decrease in working efficiency of people as they get used to earn Black money
by easy means and they start preferring leisure to work.

As we know, in the recent times the issue of black money and corruption has come into being
with participation of our civil society and parliament institutions. In this context two main issues
have come into being-

 Firstly, without any adequate factual basis, a large magnitude /amount of black money
and unaccounted wealth stashed abroad every year.
 Secondly, Govt. Response to address this issue has been inadequate or we say
considerably negligible.


After studying the concept of black money & its various sources of generation in our country,
it’s time for some Recommendations & Suggestions that may help to control black money in
India. The current remedy is demonetarization which is very much effective. Let’s see some
aspects of demonetarization.


This paper presents the different aspects of black money and its relationship with
policy and administrative measures in our country. It also reflects the policy and
strategies that the Government has been pursuing in the context of recent
initiatives, or need to take up in the near future, in order to address the issue of
black money and corruption in public life. There is no doubt that existence of black
money has a significant impact on social, economic and political levels of our
E Rpublic policy in the country.


Paper name: International journal of commerce and management research

Volume:03 pg no-74 to 78

Topic- Demonetization: A viewpoint of the restaurant industry

Author- Dr. Milind Peshave, Shailendra Dareker

“Demonetization” was a historic decision taken by the Indian government to counter the parallel
economy of “Back Money” prevalent in the country. Although there were mixed reactions from
public, the most important and prominent observation was that the citizens were determined and
stood by the government in its decision to purify the Indian economy. In view of characteristics
Of the restaurant industry to deal in cash, it was natural to see a great impact on the industry by
the decision since the situation post demonetization was a complete contrast where there was a
severe cash crunch and everyone wanted to preserve their cash holdings for priority purchases.

Objectives of the Study:

1. This study the impact of demonetization on restaurant operations.

2. To analyze the changing behavior of restaurant guests post demonetization.
3. To identify the customers’ perception on demonetization.

Research Methodology:

The data required for the research was collected using the
Following techniques:

 Personal Interviews: The researcher conducted personal interviews with owners,

managers and guests of popular restaurants in Pune city to get an insight on the problem
under study.
 Questionnaire: A questionnaire bearing straight forward and relevant questions was
drafted and handed over to the sample to obtain their responses.


1. Demonetization is a bold and positive step undertaken by the Indian government.

2. The decision would enhance the Indian economy in the long run.
3. The common man is welcoming the decision of the government.
4. It a put the common man in a great discomfort in his routine life.
5. The execution of the decision should have been more planned and efficient


1. Although, the decision was welcomed by the general public, the government should have
planned it well and should have had a strategic implementation policy in place.
2. The citizens of India should consciously try to move from cash economy to digital
economy by adopting cashless payment options.
3. The government should motivate digital payment options by providing discounts in tax
and other elements of costs.
Paper: 4

Paper name: Centum journal

Topic: Demonetization–Eradication of black money
Vol: 10
Page no: 58 to 61
Author: Dipanwita Banerjee


This paper analyses the overall impact of demonetization in India. Central governments
Decision to demonetize the high value currency is one of the major steps towards eradication of
black money in India. It may not curb black money fully but definitely it has major impact in
curbing black money. This paper tries to find out the difference between Black money and Black

1. To study the concept and history of demonetization of India.

2. Difference between Black Money and Black Economy.
3. Impact of demonetization on the black economy.
4. Alternative ways to eradicate black money.

Research methodology:

This paper is basically descriptive and analytical in nature. In this paper an attempt has been
taken to analyze Demonetization and eradication of black money. The data used in it is purely
from secondary sources according to the need.

 Demonetization affects only those individual who hold cash.
 Cash is only a small component of the black economy.
 One of channels for converting black money into white is Shell companies.
 Given the size of black economy one cannot expect to reduce or eliminate it through
recently introduced demonetization.

 The demonetization can only trigger a recession, while not entirely addressing the black
 Demonetization along with all other policies such as Jan DhanYojona, Adhar linked
payment Mobile banking; GST Act will have a real impact on black economy.
Paper -05
Paper name- International Journal of Engineering and Management
Volume- 06
Pg no-188-196
Topic - An Operant Analysis of Demonetization: A Study of ITC
Author- Mir Insha Farooq 1 , Uzair Yasin Tonga 2

Fast moving consumer goods (FMCG) is a very complex industry but one the most profitable
sector in the present scenario. The fast moving consumer goods (FMCG) segment is the fourth
largest sector in the Indian economy. India’s market for fast moving consumer goods is expected
to more than double to $104 billion by 2020 from the current level of $49 billion. ITC is one of
India's foremost multi-business enterprises with a market capitalization of US $ 45 billion and a
turnover of US $ 8 billion. This paper is an exploratory cum descriptive study and intends to
Check the impact of demonetization on fast moving consumer goods with special reference to
ITC limited.

 Impact of demonetization on the sale of FMCG retailers and wholesalers
 Change (if any) on the use of cashless and digital means of transactions
 Impact of withdrawal of old currency notes and induction of new ones on the ease of
doing business
Research methodology:

For this study the primary data was really important and the same was collected from the market
at various retail outlets, wholesale dealers point and secondary whole sale dealer points. The data
collection was survey carried out through personal interviews using a schedule. The secondary
data was collected at different sources like from Company Official Website, from Area
Executives, Team Leaders, and Online Portals.

 For most of the outlets ITC products constitute below 20% of their total merchandise.
 Cigarettes have been ranked number one by a whooping majority for generation of sales
revenue among ITC products followed by foods and personal care was ranked last by
 Outlets have decreased their stock levels and their relation with SWD/WD has been
negatively affected by demonetization.

Paper name: Journal of Maharaja Agrasen College of Higher
Pg no -1 -10
Abstract: India had an internet user base of about 365 million as of June 2016 and is expected
to cross 500 million by the end of 2016. Despite being the second-largest user base in world,
only behind China (650 million, 48% of population), the penetration of e-commerce is low
compared to markets like the U.S (266 million, 84%), or France (54 M, 81%), but is growing
at an unprecedented rate, adding around 6 million new entrants every month. The industry
consensus is that growth is at an inflection point. In India, cash on delivery is the most
preferred payment method, accumulating 75% of the e-retail activities.

1. To know the present situation of e- commerce in India.
2. How the demonetization help the e- commerce in future.


This paper is fully done by secondary data, collected from sources like Research
agencies, websites and news papers. The main purpose of this is to give a glance of
Demonetization and its effects on e- commerce.


Despite the impressive numbers, skepticism around e-commerce is still alive – and for good
reason. The Indian e-commerce industry is still far from making profit. In fact, Flip kart was
devalued by 27 percent by Morgan Stanley and later another 15 percent by T Rowe Price
recently. They are valued at less than $10 billion, from $15 billion in 2015. A few weeks ago,
online restaurant discover platform Zomato was devalued by 50 percent, to $500 million, by


E-commerce is not a new industry, technically speaking, but it is creating a newc economic
model. Most people agree that e- commerce will positively impact economic society in the
future, but in its early stages its impacts are difficult to gauge. Some have noted that e-commerce
is a sort of incorporeal revolution.

Paper – 07

Paper name: International Journal of Advanced Scientific

Research & Development



Vol: 04

Pg. no: 58 -64

Author: K. C. Balaji 1 and K. Balaji 2

Abstract: For every economy, money is considered as the life blood. Money emerged when the
unlimited wants of humans were not met through the barter system. Money forestalls “the double
coincidence of wants”. Demonetization strips a currency unit of its status as a legal tender. On 8th
November, 2016 around 8 p.m., the Prime Minister of India brought the demonetization with the
statement that with effect from 9th November 2016 Rs.500 and Rs.1000 rupees’ currency notes
are invalid except in some essential services for the time being. The demonetization has several
aims of eradicating black money, removing counterfeit notes,
Stopping money laundry and so on

 To study the history of demonetization across the world and in India.

 To study the impact of demonetization on cash less transactions.


This paper is purely conceptual so no primary data is collected by means of questionnaire or

interview schedule. The secondary data for this paper are collected from Research papers,
government and non-government websites, books and so on.


 Cost effective to Banks

 Low time Consumption
 Safe and Secure
 Up-gradation of technology
 Control of Black Money and check for Anti money laundry


“When you expect an honest Government with no corruption and malpractices, you also have to
be honest. Honesty is not one-way road” – Prime Minister Shri Narendra Modi. Demonetization
is a remedial measure for the alleviation of unaccounted money and counterfeit notes.
Demonetization is always followed by remonetisation, because there is no other go. Obviously
the demonetisation has a very strong and significant impact on the cashless transactions in India.
In fact, it brought a new phase in how the transactions are basically done in a economy which is
majorly cash based.