4 Charts That Display Two Big Things Demonetisation Did Not Supply On, And Two Matters It Did

The share of Rs 500 notes in the total value of currency in circulation had declined as of March 2017.
But here’s the thing — demonetisation has not changed that significantly, because the introduction of Rs 2,000 notes made up for the removal of Rs 1,000 notes and the slow replacement of Rs 500 notes.
Did not reduce high value note dominanceMany economists agree that high value notes encourage money laundering and other illegal activities, and should be banned.
Did slightly increase detection of counterfeit notesThe number of fake currency notes detected did go up by 20.4% over the last year.
ADVERTISEMENTSince Prime Minister Narendra Modi’s shock announcement of the demonetisation of Rs 500 and Rs 1,000 notes on the night of November 8, 2016, the goalposts for the move’s success have constantly shifted.

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