Vol. 7, Issue 1, Part C (2025)

Demonetization is a move in which old currency is replaced with new one to filter the formal economic system and to curb black money taken by government of India on 8th Nov, 2016. It is step taken to make improvements in the circulation of economy. Demonetization in India is announced by Prime Minister Narendra Modi. It contains ₹500 and ₹1000 notes. This study analysed the pre and post period of demonetization and impact of demonetization on digital payment system. 95 respondents are taken for the study as a sample. As per the findings of the study, there is a significant positive impact of demonetization of the digital payment system. People shift from cash to cashless transactions. They started using digital platforms like UPI, Debit/ Credit cards, E wallets etc instead of cash.