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Was the 2016 banknote demonetization in India a good decision?
It recapitalized the banks.
Demonetization resulted in
of demonetised currencies returned back to banks.
This was followed by
massive write-off of NPAs
. A cause-effect relation can be inferred here.
of demonetized notes came back to RBI. So it failed to recover 'black money', as claimed by the PM.