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On 8th November 2016, the GOI announce that all the 500 and one thousand banknotes will be demonetised. It essentially took away the authorized standing of those financial institution notes. They became almost nothing but a piece of paper, the individuals ended up questioned to exchange Those people Along with the new authorized tender issued by GOI.

This tactic features different Added benefits and is basically helpful for developing international locations. It provides incentives to corporations to take on dangerous projects which can help within the financial improvement of a country or society.

Remarks – Goa is really a tourism-centered point out and demonetization experienced a large influence on every industry, like tourism.

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