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Is demonetization (demonetisation) in India a failure?
The government claimed demonetization would reduce corruption, curb terrorism financing, and promote digital payments. However, there is little evidence to suggest that any of these goals were achieved.
That's true. The Reserve Bank of India's annual report indicated that over 99% of the demonetized currency was returned to the banking system, undermining the government's claim that it would flush out black money.