A Study on the Impact of Demonetization and its Effects on Economy https://www.ijarsct.co.in/Paper13271.pdf The Commonwealth of Independent States (CIS)
was established as a result of the Demonetisation programme carried out by the Union of Soviet Socialist Republics (USSR) in 1991. A similar action in North Korea resulted in homelessness, while a cash ban in Nigeria in 1984 caused the country's economy to completely collapse. It is well known that when the cash crisis first started, the government apparatus was unprepared for the difficulties it would provide. During the first three weeks following its publication, nearly 62 adjustments and notifications were made. Consumer confidence has been utterly weakened psychologically, making a comprehensive strategy to boost domestic consumption by boosting working class purchasing power necessary.