positive and negative effect of demonetization

There are both positive and negative effect of demonetization All the currency in higher denomination either come out into banking circulation or dumped in sewer. In case of former if this income comes from illegitimate sources, owner might need to face scrutiny or he will have option to take advantage of recent IDS to help them, If it latter, that would help in increase value of currency, as all currency notes in circulation is liability on government. So overall advantage common man, as what ever money he/she hold would see improvement in their values. all the money is coming back to banking channel, will result in lowering of Interest rates for loan, which would help infrastructure companies to invest more hence whole economic cycle would start resulting in humongous number of jobs. The downside would be elders or senior citizen who are dependent on interest income to run their houses, they going to be impacted most. Banks and their employees have done commendable job to help citizen in this demonetization process, however due to some bankers, now all other getting bad name due ongoing IT raids resulting in catching hugh deposits of money in old as well new currency. However again this is good news is all confiscated money would again either taken by government or returned to actual owner after deducting tax and penalty resulting in increase in value of currencyDemonetization exercise all helped people to identify political class, what their stand on corruption and black money. As per my belief no one oppose demonetization till he has something to hide ( and their criticism towards scheme increase with amount they hide), their is no question their are shortcoming in the implementation of scheme e.g. bank queues even after the month, however kudos to Indian population they are resilient and accepting scheme with open heart.