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Digital Economy and Its Collision of Black Money, Corruption and Demonetization
V. Muralidharan
Pages: 22-30 | First Published: 05 Sep 2022
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Abstract
In the present era, issue of BLACK MONEY has come into forefront of the society with active participation of our youth and parliament. At the stroke of the hour on midnight of 9th November 2016, India lost 86% of its monetary base. The electronic and social media has been praising Prime Minister’s masterstroke by which he has reportedly destroyed the base of corruption in India. In this single move, the Government has attempted to tackle all the three
issues affecting the economy i.e. a parallel economy, counterfeit currency in circulation and terror financing. Demonetization has brought a sense of justice among honest taxpayers and this would be further strengthened if the money recovered is used by the government efficiently and in a leak-proof manner for infrastructure development and social schemes.
Keywords: Black Money, Corruption, Demonetization Effect, Present Status, Future Challenges, and their effects.

1. Nafees.A.Khan, P.T.Chaudhary, "Black Money: Its Impact on the Indian Economy," Tax Reforms in India (Ed.), Srinawas Publications, Jaipur,pp. 150155,2003.
2. Sukanta Sarkar (2010). “The parallel economy in India: Causes, impacts & government initiatives ”.Economic Journal of Development Issues, Volume 11-12 no.(1-2) p.124- 134.
3. www.studymode.com/subjects/corrupti ons_and_black_money_page3.html
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6. ^ a b c "Banking secrecy spices up Indian elections". SWISSINFO - A member of Swiss Broadcasting Corporation. 14 May 2009.
7. ^ a b "Black money: Indians have stashed over $12 in banks abroad, says CBI". The Times of India. Retrieved 29 July 2015.
8. ^ Friedrich Schneider (September 2006). "Shadow Economies and Corruption All Over the World: What Do We Really Know?" (PDF). Institute for the Study of Labor (IZA Bonn).
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11. Black Money, Corruption and DemonetisationBY DR. MARTIN PATRICK · NOVEMBER 10, 201612. The Big Picture- Impact of DemonetizationBY INSIGHTS · NOVEMBER 16, 2016
13. Demonetization in India: Who Will Pay the Price?Nov 16, 2016.
14. Eradicate new black money after demonetisationN Sundaresha Subramanian | New Delhi Nov 19, 2016 01:44 PM IST
15. Rajni Arora (2012), “Black Money In India: Present Status And Future Challenges”.ISSN: 2278 – 7798 International Journal of Science, Engineering and Technology Research (IJSETR)Volume 1, Issue 5, November 2012.
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Brunt of Digitalization on the Banking Region
Dr. N. Anitha
Pages: 31-34 | First Published: 05 Sep 2022
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Abstract
“Digital” is the new buzz word in all sectors. With other sector, banking is also all around the globe shifting towards digitalization. Digitization is the conversion of data into a digital format with the adoption of technology. Adoption of digitalization is very important for the banking sector. By acceptance of digitalization, banks can provide enhanced customer services. This provides convenience to customers and helps in saving time. Digitalization reduces human error and thus builds customer loyalty. Today, people have round-the-clock access to banks due to online banking. Managing large amounts of cash has also become easier. Digitalization has also helped customers by facilitating cashless transactions. Customers need not store cash anymore and can make transactions at any place and time.
Keywords: Embracing, cashless, Digitalization…

1. Agrawal, S, „The Impact of Internet Banking in Thebanking Scenario‟, 12 (2015)
2. Boot A. (2016) ‘Understanding the Future of Banking Scale & Scope Economies, and FinTech’, University of Amsterdam, mimeo.
3. P.Ravilochan: Research methodology Margham Publications (2013)
4. Reserve Bank of India, „Handbook of Statistics on Indian States‟, 20175. Verdier M. and Mariotto R. (2015) ‘Innovation and Competition in Retail Banking’, Communications & Strategies, 98, pp. 129-145.