Socio-economic and psychological impact of demonetization in rural punjab

The Government of India implemented a drastic change in the economic environment on 8th November,2016, by demonetizing the high currency notes of Rs 500 and Rs 1000. Demonetization was a step taken by the honourable Prime Minister to eradicate black money and to flush out the fake currency being in circulation from the economy. The objective of this paper is to deeply go through the issue of demonetization and to study the hardships being faced by the rural people due to demonetization. Various websites, journals, articles, write ups of famous personalities, news in newspapers have been consulted to write this paper. This paper concludes that respondents suffered very bitter experience of demonetization. According to the respondents demonetization was not a good step as they had problem in operating digital economy.