demonetization
Stripping legal tender
Demonetization is the withdrawal of a currency's status as legal tender.
Governments demonetize when replacing old currency, fighting counterfeiting, or attempting to flush out undeclared cash: India's 2016 demonetization caused chaos as people rushed to exchange their bills.
The word also describes removing something from a money-making system, particularly when online platforms strip content of advertising revenue: The video was demonetized for violating community guidelines.
Paper currency notes
- currencyMedium of exchange
- invalidationAct of nullifying
- recallMemory retrieval act
- voidWithout legal effect
abolish · nullify · rupee · legal tender · scrapped · defunct · obsolete · phased out
Opposing abuse of office
- tax evasionIllegally avoiding government dues
- counterfeitFraudulent imitation
- transparencyState of being see-through
- formalizationProcess of making rigorous
modernization · digitization · accountability · crackdown · illicit funds · undeclared income · shell companies
Authority over a state
- central bankNational currency management institution
- mandateFormal authoritative directive
- decreeAuthoritative legal command
- notificationFormal notice given
enforcement · compliance · RBI · treasury · regulation · announcement · implementation · overnight
Transactions made electronically
- e-walletElectronic payment storage system
- mobile bankingWireless account management service
- UPIIndian instant payment system
- contactlessRequiring no physical touch
QR code · fintech · electronic transfer · online payment · tap-to-pay · payment gateway · digital wallet
Inability to access funds
- shortageDeficient supply of necessities
- hoardingExcessive accumulation of goods
- panicUncontrollable sudden fear
- small businessModest independent commercial venture
disruption · slowdown · recession · unbanked
banknotes
Paper currency notes
- currencyMedium of exchange
- invalidationAct of nullifying
- recallMemory retrieval act
void · abolish · nullify · rupee · legal tender · scrapped · defunct · obsolete · phased out · discontinued
anti-corruption
Opposing abuse of office
- tax evasionIllegally avoiding government dues
- counterfeitFraudulent imitation
- transparencyState of being see-through
formalization · modernization · digitization · accountability · crackdown · illicit funds · undeclared income · shell companies
government
Authority over a state
- central bankNational currency management institution
- mandateFormal authoritative directive
- decreeAuthoritative legal command
notification · enforcement · compliance · RBI · treasury · regulation · announcement · implementation · overnight · sudden
digital payments
Transactions made electronically
- e-walletElectronic payment storage system
- mobile bankingWireless account management service
- UPIIndian instant payment system
contactless · QR code · fintech · electronic transfer · online payment · tap-to-pay · payment gateway · digital wallet
liquidity crisis
Inability to access funds
- shortageDeficient supply of necessities
- hoardingExcessive accumulation of goods
- panicUncontrollable sudden fear
small business · disruption · slowdown · recession · unbanked
- YouTubegaming channels, vlog, vlogger, YouTube, beauty gurus
- censorshipbanned books, censored, banned, book banning, book bans
- currencydollar, euro, pound, yen, peso
- Internet Fameviral star, influencer, YouTuber, TikToker, streamer
- Indian historyancient India, Indian independence, Akbar, Mughal Empire, British Raj
- access restrictionspassword, paywall, login wall, geo-block, IP ban
demonetizationmonetization
Converting something into revenue
valorization · financialization · appreciation · capitalization · commodification