What is the impact of demonetization in

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Target Exam

CUET

Subject

Business Studies

Chapter

Business Environment

Question:

What is the impact of demonetization in relation to Digitisation?

Options:

Digital transactions amongst new users (RuPay/AEPS) decreased

Digital transactions amongst new users (RuPay/AEPS) increased

Cash transactions amongst new users (RuPay/AEPS) increased

Bank deposits increased

Correct Answer:

Digital transactions amongst new users (RuPay/AEPS) increased

Explanation:

The correct answer is option 2- Digital transactions amongst new users (RuPay/AEPS) increased.

IMPACT OF DEMONETISATION

1.	Money/Interest rates	i. Decline in cash transactions ii. Bank deposits increased iii. Increase in financial savings
2.	Private wealth	Declined since some high demonetised notes were not returned and real estate prices fell
3.	Public sector wealth	No effect
4.	Digitisation	Digital transactions amongst new users (RuPay/AEPS) increased
5.	Real estate	Prices declined
6.	Tax collection	Rise in income tax collection because of increased disclosure