On 2016-11-08, the Government of India announced that it had:

decided to cancel the legal tender character of the High Denomination bank notes of Rs.500 and Rs.1000 denominations issued by RBI till now.

What were the effects of this demonetisation? Have there been any estimates of its net benefits or costs? And all things considered, was it a good idea?

(Wikipedia article, related question.)

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    $\begingroup$ Welcome! How will you know that an answer is not given by an Indian economist? Please rephrase this question because, despite its interest, it will generate opinion-based comments in its current form. $\endgroup$ – emeryville Mar 15 '19 at 13:53
  • $\begingroup$ Why I want this question to be answered by the non-Indian economist because the opinion can be subject to favouritism of political leaders or even no reason hate towards the leader, as the election is on the way I don't want to roast the topic for election promotions or demotion, I want oust side economist who is well known of Indian economy, to transparently give his opinion about the demonetization. $\endgroup$ – gangothri Mar 18 '19 at 7:31

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