Impact of Demonetization In BSE– With Special Reference to Health Care Industry
Keywords:Demonetization, Stripping, Capital market and monetary reforms
Demonetization is the act of stripping a currency unit of its status as legal tender. The current form or forms of money is pulled from circulation and retired, often to be replaced with new notes or coins. Sometimes, a country completely replaces the old currency with new currency sometimes it may be partly, now this happened. The Government of India has taken and announced monetary reforms of demonetization of Rs.1000 and 500 currency notes on 8 November 2016 .The government taken an effort to stop counterfeiting the current bank notes, avoid funding for terrorism, wiping of black money, eliminate hoarding of currency notes and to reduce corruption. This demonetization is not new in India the higher value currency notes were demonetization started in 1946. The move was then justified as attempt to contain the volume of banknotes in circulation due to inflation. After a long back once again the monetary reforms taken by the government of India. Due to the immediate announcement of demonetization all the sectors were stunned. Overall India faced high demand of currency shortages and had long queue in front of bank, cashless ATM, black transactions without any humanity. All sectors were affected in this government decision even small businessman, agriculturist were affected more. Only middle class and poor people were highly affected because mostly rich people have influence with banks so they were not stand in the queue they directly go into the bank easily change their money. Capital market also one of the highly affected sector with this demonetization. These demonetization measures have had significant and immediate impact on the state of the Indian economy. The main aim of the study was to identify the impact of demonetization on Bombay stock exchange Health care industry. The correlation and linear regression analysis result that Demonetization has a significant effect on healthcare industry and this reflects in Indian economy.
Dr. P. Chellasamy, Anu. K. M Impact of demonetization on Indian stock market: with special reference tomsectoral indices in NSE, ISOR
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