Motilal Oswal
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Motilal Oswal
Nov 08, 2018 02:13 PM IST | Currency

2 years of demonetisation: What India looked like after the announcement of note ban

November 8, 2018 marks the second anniversary of demonetisation that saw one of the most controversial step taken by the government that had widespread impact on Indian economy and population. On November 8, 2016, Prime Minister Narendra Modi addressed the nation and announced demonetisation of Rs 1000 and Rs 500 notes to fight black money, fake currency and corruption. Here is a look at how the decision affected the lives of millions.

Prime Minister Narendra Modi addressed  the nation on November 8, 2016 to announce demonetisation of Rs 1000 and Rs 500 notes with effect from midnight, making these notes invalid in a major assault on black money, fake currency and corruption. (Photo Credit: PIB Twitter)
Prime Minister Narendra Modi addressed  the nation on November 8, 2016 to announce demonetisation of Rs 1000 and Rs 500 notes with effect from midnight, making these notes invalid in a major assault on black money, fake currency and corruption. (Photo Credit: PIB Twitter)
The note ban affected people across the country including foreign tourists. In this picture tourists who came to visit the Taj Mahal are found holding the demonetised notes.(Photo: Pawan Sharma/IANS)
The note ban affected people across the country including foreign tourists. In this picture tourists who came to visit the Taj Mahal are found holding the demonetised notes.(Photo: Pawan Sharma/IANS)
People wait in the queue outside ATM kiosks in Delhi after Prime Minister Narendra Modi announced demonetisation. The ban led to a cash crunch across the country with people waiting for hours in front of ATM kiosks to get valid currency. (Photo: IANS)
People wait in the queue outside ATM kiosks in Delhi after Prime Minister Narendra Modi announced demonetisation. The ban led to a cash crunch across the country with people waiting for hours in front of ATM kiosks to get valid currency. (Photo: IANS)
People wait in the queue outside ATM kiosks in Bengaluru. The note ban impacted the day to day life  with economy coming to a standstill in many parts of the country. (Photo: IANS)
People wait in the queue outside ATM kiosks in Bengaluru. The note ban impacted the day to day life  with economy coming to a standstill in many parts of the country. (Photo: IANS)
People wait in the queue outside ATM kiosks. (Photo: IANS)
People wait in the queue outside ATM kiosks. (Photo: IANS)
People wait in the queue outside ATM kiosks to get valid notes. Many small scale shops and merchants struggled initially as they lacked facilities for electronic transactions . (Photo: IANS)
People wait in the queue outside ATM kiosks to get valid notes. Many small scale shops and merchants struggled initially as they lacked facilities for electronic transactions . (Photo: IANS)
New Delhi: New Rs 2000 and Rs 500 notes were issued to replaced the demonetised notes, though it still took days to recover from the initial cash crunch.  (Photo Credit: ANI Twitter)
New Delhi: New Rs 2000 and Rs 500 notes were issued to replaced the demonetised notes, though it still took days to recover from the initial cash crunch.  (Photo Credit: ANI Twitter)
The decision was also met with opposition from various organizations in the country. Here, police is seen using a water cannon to disperse demonstrators during a protest organized by India's main opposition Congress party against demonetisation, outside Reserve Bank of India (RBI) in Chandigarh on January 18, 2017. (REUTERS/Ajay Verma - RC19710E79B0)
The decision was also met with opposition from various organizations in the country. Here, police is seen using a water cannon to disperse demonstrators during a protest organized by India's main opposition Congress party against demonetisation, outside Reserve Bank of India (RBI) in Chandigarh on January 18, 2017. (REUTERS/Ajay Verma - RC19710E79B0)
People chant slogans as they are detained by police during a protest organised by India's main opposition Congress party against demonetisation in Bengaluru, India, January 19, 2017. (REUTERS/ Abhishek N. Chinnappa - RC1A58E65FF0)
People chant slogans as they are detained by police during a protest organised by India's main opposition Congress party against demonetisation in Bengaluru, India, January 19, 2017. (REUTERS/ Abhishek N. Chinnappa - RC1A58E65FF0)
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