Recently Indian government has demonetized the high value currencies i.e. currency notes of 500 and 1000 with objective to unearth the black money, and to curb the corruption, counterfeit currency as well as terror financing. This decision was considered as biggest cleanliness drive against the black money in the history of Indian economy. But there is various view of experts on demonetization, as some argues that it will hit the black money. Demonetization was an effort to stop of the current banknotes allegedly used for funding terrorism, as well as crack down on black money in the country. Demonetization is an established practice in monetary policy to tackle black money. The stock of the black money constitutes as major part of the GDP is significant. It can be said that this is a historical step and must the supported by all people to reduce black money.