There was a large number of fake new bills in circulation within 3 months. So the answer is, no, it had almost no impact in curtailing the menace. But hey look,

There was a large number of fake new bills in circulation within 3 months. So the answer is, no, it had almost no impact in curtailing the menace. But hey look, the fruit vendor is accepting PayTM wallet (a large chunk of which is owned by China) so it must have been a huge success.