> So if someone missed this 17 days or has not managed to exchange their funds The first deadline of 17 days was to get rid of the demonetised notes by deposit

> So if someone missed this 17 days or has not managed to exchange their funds The first deadline of 17 days was to get rid of the demonetised notes by depositing them with banks. The logistics of the demonetisation was a total clusterfuck. The banking infrastructure was kept in the dark so they were utterly unprepared to handle the rush. They were provided with zero information and SOPs so they were also totally clueless to handle different situations. To make matters worse the new weren't readily available. So the withdrawals were rationed. 500 and 1000 notes formed the bulk of notes in supply, something like 90% of notes in circulation. And this was at a time when digital payments weren't adopted by the masses. Most of the daily wage earners didn't even have a bank account. India is a large country with lots of remote, hard to access places. People were still clinging on to these old currency notes, as their primary savings, to discover that they were useless 2-3 years later. All of these lead to a cascading failures. Imagine removing 90% of circulating blood from a large animal. That's exactly what happened to Indian economy. I'm sure there's like a dozen PhDs in there for humanities, economics students in there. Here's a good (but hard to find) video on the topic: https://www.youtube.com/watch?v=qELSFa5NtYc https://www.youtube.com/watch?v=qELSFa5NtYc The speaker has researched on this topic for decades.