Demonetisation at 10: Assessing India's Gains and Challenges

Photo: Deccan Herald

On November 8, 2016, India demonetised ₹500 and ₹1,000 notes, which made up 86% of currency in circulation, aiming to combat black money, counterfeit currency, and terror financing. Ten years later, most cash returned to banks, questioning the impact on unaccounted wealth. While demonetisation enabled scrutiny of deposits and suspicious accounts, its long-term benefits versus economic disruption remain debated.

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