Rural Awareness on Demonetization

Demonetization is the act of stripping a currency unit of its status as legal tender. Currently, The Government of India announced that the Rs 500 and Rs. 1000 denominated currency notes and introduced the higher value of currency notes such as Rs. 2000.The move was targeted towards tackling black money, corruption and terrorism. This makes to raise some of the questions like why there is a need of demonetization, what is the reason, places where it effect and more. This move is expected to cleanse the formal economic system and discard black money from the same. The study has the main objective of examining the impact of demonetization among farmers in rural areas and to study the impact of cashless digital economy and its accessibility among farmers. This paper elucidates the impact of demonetization on rural area in India.