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Article type :

Original Article

Author :

VINOD KUMAR M Assistant Professor Christ University, Bengaluru ESHWARANKRISHNASWAMY Post graduate Research Scholar Christ University, Bengaluru STEVON JOSE Post graduate Research Scholar Christ university, Bengaluru

Volume :

4

Issue :

1

Abstract :

The move to demonetize high denominated currencies taken by the Government of India was put into effect from the eve of 8th November 2016. This was done to curb the circulation of fake currency notes, curtail black money and also at the same time pave the way for financial inclusion by digitizing payments in India, thereby effectively improving the Indian economy and cutting the funding for illegal activities and activities that put the nation at threat. Following this significant initiative, there was a rush to get liquid cash amongst people, and it caused a lot of difficulties for the people of the country. Having no liquid cash on hand led to people being hard pressed to scrape together the money required for them to buy their daily day to day essentials. This in turn also adversely affected the retailers who faced the shortage of customers and thereby a drop in sales. This research aims to look into the impact of demonetization on such retailers concerning the inconveniences suffered by them and the extent of financial inclusion amongst the retailers. It also seeks to study the penetration of digital payments amongst the retailers. The scope of the study would be the Retail Industry in India with specific reference to Bangalore.