On November 8, Prime Minister Narendra Modi made a televised announcement on the government’s decision to withdraw 500 and 1000 rupee notes that were in circulation in the Indian economy. This huge ...

Recap: Suddenly, everybody in India was told that most of their cash no longer had any value. That was on November 8th, 2016. So while Americans were cheering or moaning about the victory of Trump, ...

Indian Prime Minister Narendra Modi’s recent demonetization initiative—whereby he unilaterally declared on November 8 that all 500 and 1,000 rupee notes would no longer be accepted as legal tender—has ...

An activist of Congress party holds banned 500 and 1000 rupee notes during a protest against demonetization in front of Reserve Bank of India. in Hyderabad India (Nov. 28, 2016). Credit: AP ...

Several countries are undergoing "demonetization" or currency reforms in which the government recalls bills of particular denomination that are in circulation and replaces them with new notes. Some of ...

Prime Minister Narendra Modi’s bold announcement of invalidating most circulated currency notes has left hundreds of millions of people stranded without any money. Two weeks into it, however, Modi is ...

The issue was whether demonetization cash deposits were unexplained. The Tribunal held that deposits from recorded business ...