Demonetization is defined as seizure of some units of currency or closure of certain legal tender circulating in the economy.  On November 8th last year, the Government of India demonetized INR 1,000 and INR 500 notes – two highest valued currencies.  The primary objectives were to reduce the flow of black money in the economy, and bring all economic transactions into the open system, make India less reliant on cash economy. Economists from left as well as right wings have expressed their Read more [...]