When Did India Demonetized?

On 8 November 2016, the Government of India announced the demonetisation of all ₹500 and ₹1,000 banknotes of the Mahatma Gandhi Series. It also announced the issuance of new ₹500 and ₹2,000 banknotes in exchange for the demonetised banknotes.

When was demonetisation declared India?

Four years after Narendra Modi announced demonetisation on November 8, 2016, the withdrawal of banknotes have become a historic event in the lives of Indian citizens and those who depended on the Indian economy.

Was demonetization successful in India?

The RBI says that the share of Rs 500 and Rs 2,000 notes is 80.6 per cent. This indicates a 5.8 per cent increase in the use of small denomination currency notes. Was Demonetisation a success? Officially, yes.