The conversation between human and AI assistant.
Is demonetization (demonetisation) in India a failure?
Yes, and the process of exchanging old notes for new ones caused long lines at banks, ATMs to run out of cash, and many people struggling to make ends meet. It was especially hard for people who relied on cash transactions, such as small businesses and farmers.
Agreed, the disruptions to the economy were significant, and some estimates suggest that GDP growth slowed as a result of demonetization.