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How would changing the 500 and 1000 currency notes help indian government in dealing with corruption?
How successful was the demonetization policy in India?
The success rate of the demonetization policy can be viewed from various angles. The Indian Government reported that they collected 99 percent of the old currency notes through the deposit process. However, it caused chaos and long lines at the banks and ATMs while exchanging the currency notes. Also, some claim that it failed to achieve the desired outcome of permanently curbing corruption in India.