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Panel Discussion on "Demonetization and Its Economics" was held on 15/11/2016

Students Gymkhana, a student body of IIT Bhubaneswar, has organized a panel discussion on 15th November 2016 at 6 pm in the Institute Community Centre in Argul, on the topic Demonetization and Its Economics. The meeting got started with the warm welcome extended to all the audience by Prof V R Pedireddi, Dean, Student Affairs.

Following eminent members from various sections, disciplines, expertise shared the dais as panel members. 

  • Shri G. C. Pati, IAS, Former Chief Secretary, Govt. of Odisha
  • Prof. BinayakRath, Former Vice-Chancellor, Utkal University
  • Dr. S. P. Mohanty, General Manager, Reserve Bank of India, Bhubaneswar
  • Shri R. L. Mohanty, Chairman, MGM Minerals Ltd., Bhubaneswar
  • Prof. P. K. J. Mohapatra, IIT Bhubaneswar
  • Mr. K. Tejesh, Final Year BTech Student, IIT Bhubaneswar

The meeting was attended by Prof. R V Raja Kumar, Director, IIT Bhubaneswar, several distinguished guests of excellence, a large number of students, faculty and staff members of IIT Bhubaneswar. 

Prof. P. K. J. Mohapatra choired the session as a moderator with following questions for discussion through the views of the panel members.

  1. What are the objectives of demonetization?
  2. How well was it implemented?
  3. How effective will it be in the long term?

During the discussions, a clarification was given to account the difference between demonetization and withdraw of currency from legal tender processing.   Also, all the members unanimously expressed the long term impacts of the exercise making more vibrant India forwarding in the directions of the building of the Nation with enhanced economic growth.

Following the discussion, several students raised various questions to the panel members to have more in depth knowledge of functioning of economy and menace of fake currency in the growth of progress of Nation, etc. 

It was observed that the move of demonetization as the unique act can achieve a undefinable added value (both long term and immediate) including generation of confidence on governance and economy of the nation of 125 crores and that the general side effects one may encounter in such treatment is understandable.

Meeting was concluded with the presentation of mementos to the panel members by the Director, IIT Bhubaneswar and President Gymkhana gave Vote of Thanks.