On 8 November 2016, Prime Minister Narendra Modi announced demonetisation, removing the Rs 500 and Rs 1,000 notes with immediate effect.

The move led to a panicky situation across the country where people were seen jostling for cash at ATMs (Automated Teller Machine). There were serpentine queues at the ATMs and it took several months for normalcy to return.

The government never admitted the move caused much pain and distress to the people. Recently, the government even refused to publish a report stating demonetisation was responsible for job losses in the country.

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