demonetisation
Making money worthless
Demonetisation is the withdrawal of a currency's status as legal tender.
Governments demonetise notes or coins to combat counterfeiting, curb black markets, or force modernisation of payment systems.
India's 2016 demonetisation of high-value notes caused widespread disruption.
The spelling demonetization is more common in American English.
Paper currency notes
- legal tenderOfficially recognized payment medium
- withdrawalAct of taking away
- obsoleteNo longer in use
- exchangeMutual giving and receiving
invalid · phasing out · replacement · discontinued · cessation · rescinded · annulled · decommissioned
Illegally avoiding government dues
- corruptionDishonest abuse of power
- hoardingExcessive accumulation of goods
- unaccountedNot included or explained
- illicitProhibited by law
underground economy · counterfeit · laundering · shell company · smuggling · bribery · kickback · cash stash
Transactions made electronically
- e-walletElectronic payment storage system
- mobile paymentPurchase via smartphone
- contactlessRequiring no physical touch
- UPIIndian instant payment system
online banking · QR code · fintech · debit card · bank transfer · payment gateway
Complete disorder and confusion
- cash shortageLack of available funds
- panicUncontrollable sudden fear
- uncertaintyState of being unsure
- turmoilViolent disturbance or confusion
hardship · inconvenience · paralysis · crisis · confusion
Revising government financial policy
- central bankNational currency management institution
- RBIRuns driven home stat
- governanceHow authority is exercised
- economic planningCoordinated allocation of resources
currency reform · formalization · tax base · surgical strike · declaration · amnesty
banknotes
Paper currency notes
- legal tenderOfficially recognized payment medium
- withdrawalAct of taking away
- obsoleteNo longer in use
exchange · invalid · phasing out · replacement · discontinued · cessation · rescinded · annulled · decommissioned · numismatics
tax evasion
Illegally avoiding government dues
- corruptionDishonest abuse of power
- hoardingExcessive accumulation of goods
- unaccountedNot included or explained
illicit · underground economy · counterfeit · laundering · shell company · smuggling · bribery · kickback · cash stash · black market
digital payments
Transactions made electronically
- e-walletElectronic payment storage system
- mobile paymentPurchase via smartphone
- contactlessRequiring no physical touch
UPI · online banking · QR code · fintech · debit card · bank transfer · payment gateway
chaos
Complete disorder and confusion
- cash shortageLack of available funds
- panicUncontrollable sudden fear
- uncertaintyState of being unsure
turmoil · hardship · inconvenience · paralysis · crisis · confusion
fiscal reform
Revising government financial policy
- central bankNational currency management institution
- RBIRuns driven home stat
- governanceHow authority is exercised
economic planning · currency reform · formalization · tax base · surgical strike · declaration · amnesty
demonetisationmonetisation
Converting to revenue source
coinage · minting · monetization · dollarisation · quantitative easing
demonetisationquantitative easing
Asset purchases to boost economy
reflation · economic stimulus · inflation · recapitalisation
money, monetary, monetize, monetization, monetarist, monetarism, demonetization, demonetized, demonetize