Impact of Demonetisation on Indian Insurance Sector

Mohammad Saif Ahmad

Demonetization programs are not new in India and have been introduced previously in the country to counter funding of illegal activities. In 2016, demonetization was reintroduced to the Indian economy to counter black money, digitisation and initiate a process that would move the country towards a cashless economy. The article will source for vital information from articles, books and publications to create an in-depth analysis of how demonetisation has affected the insurance industry in India. In this paper, the main focus will be directed towards assessing the impact of demonetization on the Indian insurance sector. The research question that will be answered by this article is ‘what is the impact of demonetisation on the Indian insurance sector?’ The paper will unearth how demonetization has changed the face of the insurance industry in the country. Additionally, the paper will paint a picture of growth prospects and generally what the future of the country's insurance sector will look like.

Volume 11 | 06-Special Issue

Pages: 605-611