Perception of Bank Employees towards step by step demonetisation process of Government of India with special reference to Ernakulam District, Kerala

Abstract

India is undergoing on the consequences of old 500 and 1000 denomination changes w.e.f Nov 2016 as the first step of demonetisation process. This decision caused a surprising sensation in the whole world. The move was also termed as extraordinary by some, but this is not the first time the RBI has demonetised currency. Rs 1,000 and Rs 10,000 banknotes were demonetised in 1946. These two denominations were reintroduced in 1954 along with currency notes of Rs 5,000, and all the three were again demonetised in January 1978. Moreover, in 2014 RBI had demonetized all currencies, whichare printed before 2005. Since the recent demonetisation is termed as the first step of the currency less country, every citizen in India is eagerly awaiting for nearby happenings in India.

This study is aimed to analyze the perception of bank employees who will play an important role in demonetisation process. The main objective of this study is to know their viewpoints with respect to demonetisation and also aimed to study the problems faced by them during recent the currency freezing decision by Govt. of India.21 samples were taken, data collected through Likert Scaling and T Test, Pearson’s Coefficient Correlation and Percentage Analysis are used to analyse the data. It will also help the concerned authority knows the perception of a relevant group who have played their important role since Nov. 9th 2016. Important finding of this study is that a negative correlation is existed between demonetisation and Government’s image and a proper convincing is required with the support of statistics to prove that the decision was good and also to regain the image of Government.