A colloquium was conducted on 28 November 2017 on the topic “Demonetization – Goals and Effects : A Retrospective” including the following panellists from the industry–Mr.Jiz Paul, General Manger, Catholic Syrian Bank, Mr.Shaju Moolan, M.D Moolans Group, Mr.K.J Kunjachan, M.D, Arjuna Extractions and the following academicians: Dr. Mani K P, Retd. Professor, John Mathai Centre, University of Calicut.Professor, XIME, Kochi, Prof. Sambu Nampoothiri, H.O.D, Dept. Of Economics, SreeSankara College, Kalady and Dr.Santhosh,HoD, Department of Management, CUSAT. The session was attended by Al-Ameen College Trustee members, faculty and students from various colleges. The goals and effects of demonetization as well as various repercussions were discussed. This substantive economic reform was meant to curb black money and counterfeit money and to encourage the move towards “Digital Currency” and the sudden move or “shock doctrine” was expected to benefit in the long run.The general observation of panellists was that the negative effect of demonetization offsetted its positive effects.