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Abstract

The sudden announcement of demonetization in India caused an immediate financial crisis that cascaded throughout the whole country and consequently caused suffering in the lives of many people, one such group being married women. Therefore, the present study aimed to explore and understand how married women were impacted by the demonetization policy. A total of 20 working and non-working women were selected from New Delhi and a qualitative research design based on interpretative phenomenological analysis (IPA) was employed. The present study identified three themes (i.e., problems due to demonetization, coping with demonetization, and diverse experiences associated with hidden money) and ten subthemes in which it was evident that both working and non-working women were impacted by the demonetization policy. Participants were able to develop different coping strategies to deal with the crisis. Surprisingly, contrary to our expectations, none of the participants received any negative treatment from their husbands after knowing their hidden savings.

Keywords

Demonetization, Financial Crisis, Working Women, Non-Working Women, Interpretative Phenomenological Analysis

Author Bio(s)

Dr. Naved Iqbal is a professor in the Department of Psychology, Jamia Millia Islamia, New Delhi. Correspondence regarding this article can be addressed directly to: niqbal@jmi.ac.in

Mr. Imtiyaz A. Dar is a research scholar in the department of Psychology, Jamia Millia Islamia, New Delhi. Correspondence regarding this article can also be addressed directly to: psyimtiyaz@gmail.com

Ms. Irum Khan is a research scholar in the department of Psychology, Jamia Millia Islamia, New Delhi. Correspondence regarding this article can also be addressed directly to: irumkhan89@gmail.com

Acknowledgements

We express our thanks to the participants for their voluntary participation in the study.

Publication Date

3-28-2020

Creative Commons License

Creative Commons Attribution-Noncommercial 4.0 License
This work is licensed under a Creative Commons Attribution-Noncommercial-Share Alike 4.0 License.

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