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Prime Minister Narendra Modi's transfer of demonetization drive no doubt will bring out all the black cash but this has brought on panic amongst the general public. The ban, announced by Prime Minister Narendra Modi on 9/11/2016, has been met with wild surprise virtually throughout the board and the impact was almost instantaneous. After issuing the ban, the prime minister categorically said that the notes in query had been the centerpiece of all illegal money dealings in the nation and, subsequently, needed to be handled to curb the rampant black cash actions. Worth noting too is the truth that the ban on Rs 500 and one thousand denominations will hardly have an effect on the other varieties like cash alternate in the black market, notably gold price now, jewellery, and land. India's black market is a melting pot of a number of the country's largest illicit deals together with corruption, laundering, human trafficking, and a bunch of other shoddy actions involving unaccounted cash. However, analysts also acknowledge that there might be unfavorable penalties within the quick time period, particularly to a big portion of the nation's working class as well as rural enterprise establishments. The asset class status would give the Indians the possibility of capitalizing gold and making it as liquid as the stock of any listed agency.

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