Withdrawal of 2K Currency: Redefining Indian Economy

Abstract

The present economic condition all over the world is not favorable due to COVID-19 crisis over the last 2-3 years. This pandemic and prolonged lockdown have devastated economic conditions in almost all countries. In the present situation, now the question arises as to how the ₹ 2K denomination currency withdrawal will impact the banking sector and Indian economy. Further, due to the ongoing Russia-Ukraine war , high inflation rate and constant rise of interest rates in different countries, the position of the world market is already in turmoil. Here an endeavor is made to study the strengths, weaknesses, etc. (SWOT) of the ₹ 2K denomination withdrawal.