DEMONETISATION

The demonetisation of ₹500 and ₹1,000 banknotes was a policy enacted by the Government of India on 8th November 2016. All ₹500 (US$7.40) and ₹1,000 (US$15) banknotes are ceased to be legal tender in India from 9th November 2016. The announcement was made by the Prime Minister of India Mr. Narendra Modi in an unscheduled live televised address on 8th November . There were instances of banknote demonetisations by the previous governments. In January 1946, banknotes of ₹1,000 and ₹10,000 were withdrawn and new notes of ₹1,000, ₹5,000 and ₹10,000 were introduced in 1954.The Janata Party coalition government had again demonetised banknotes of ₹1,000, ₹5,000 and ₹10,000 on 16th January 1978 as a means to curb counterfeit money and black money. As this situation (The demonetisation of ₹500 and ₹1,000 banknotes) is tough for every Indian citizen, but as an Artist I took challenge to work on this topic as a Theme for my next Fine Art Photographic Work and tried to describe the various faces of this situation.