BBC nails it better. Invalidating 90% of the stock of currency notes to catch 6% of illegal wealth was a clear case of using a hammer to kill a fly. The

BBC nails it better. Invalidating 90% of the stock of currency notes to catch 6% of illegal wealth was a clear case of using a hammer to kill a fly. The rationale of a crackdown on counterfeit notes was also misleading since India's central bank's own estimate was that fewer than 0.02% India's stock of high-value currency was growing in line with GDP and the share of such currency in India's GDP remained constant at around 9% for half a decade http://www.bbc.com/news/world-asia-india-41896865 http://www.bbc.com/news/world-asia-india-41896865