Beyond the Balance Sheet: Employee Perspectives on the Indian Demonetization

Abstract

India's historic demonetization campaign aims to combat counterfeit money, black money, and corruption by nullifying high-denomination currency notes. Many studies have looked at the financial and economic implications using conventional metrics like profit and loss statements, balance sheets, and financial ratios; however, this study adopts a new approach by looking at the psychological effects of demonetization on employees of affected organizations. We gather data from employees via surveys and in-depth interviews to find out how demonetization has impacted their daily lives at work, financial stability, and mental health. This research article provides a comprehensive analysis of the effects of demonetization, highlighting the sometimes-overlooked human side of economic policy. Prioritizing employee voices enables us to observe the flexible strategies, challenges, and fortitude that workers have displayed throughout this period of economic uncertainty. Through elucidating the importance of considering human experiences in policy formulation, the research aims to advance our understanding of economic disruptions.