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Note The Change: A Comparative Study Of Demonetization Efforts In India And Sweden, Danielle Browske

UNF Graduate Theses and Dissertations

On the evening of November 8th, 2016, Prime Minister Narendra Modi announced to a shocked India that the two most common banknotes would thereafter cease to be legal tender. Newly designed notes were printed and dispersed to Indians who were forced to wait in long bank and ATM lines, which frequently ran out of cash due to such high demand. There were reports of people dying in lines, not getting paid their salaries due to the chaos, and losing everything in the resulting inflation that plagued rural farmers. Since then, India has seen a rise in cash usage rates compared …