Demonetise definitions
| Word backwards | esitenomed |
|---|---|
| Part of speech | The part of speech of the word "demonetise" is a verb. |
| Syllabic division | The syllable separation of the word "demonetise" is de-mo-ne-tise. |
| Plural | The plural of the word "demonetise" is demonetises. |
| Total letters | 10 |
| Vogais (3) | e,o,i |
| Consonants (5) | d,m,n,t,s |
Demonetisation refers to the act of stripping a currency unit of its status as legal tender. This typically happens when a government issues new currency notes, rendering the older currency notes useless for transactions.
Demonetisation can have various purposes, including combating corruption, reducing tax evasion, and promoting a cashless economy. By invalidating old currency notes, the government aims to bring about a certain level of transparency in monetary transactions.
Impact of Demonetisation
The effects of demonetisation can be far-reaching and varied. In some cases, it can lead to a temporary disruption in the economy as people scramble to exchange their old notes for new ones. Small businesses that rely heavily on cash transactions may face difficulties during this transition period.
Benefits of Demonetisation
While demonetisation may have its challenges, it also has potential benefits. By promoting digital transactions and reducing the circulation of black money, demonetisation can help create a more transparent economy. It can also lead to an increase in tax compliance, as people are forced to declare their income through legitimate channels.
Criticism of Demonetisation
Despite its potential benefits, demonetisation has faced criticism for the way it was implemented and the impact it had on the common people. Long queues at banks, cash shortages, and economic disruptions have all been cited as drawbacks of demonetisation.
In conclusion, demonetisation is a significant policy tool that governments can use to achieve certain economic objectives. While it may have its challenges and criticisms, demonetisation can also bring about positive changes in the economy if implemented effectively.
Demonetise Examples
- The government's decision to demonetise high-value currency notes caused chaos in the market.
- Many businesses suffered as a result of the sudden demonetisation policy implemented by the central bank.
- The decision to demonetise certain coins led to a shortage of change in the local economy.
- Some people believe that governments demonetise currency to control the flow of money in the economy.
- The Prime Minister announced plans to demonetise old banknotes in an effort to curb corruption.
- Critics argue that demonetising currency unfairly targets low-income individuals who rely on cash transactions.
- Demonetisation can have both positive and negative effects on a country's economy depending on how it is implemented.
- Businesses are often caught off guard when the government decides to demonetise certain denominations of currency.
- Experts suggest that demonetising currency can help reduce tax evasion and increase transparency in financial transactions.
- The central bank's decision to demonetise certain coins was met with mixed reactions from the public.