Snaking queues at a bank in New Delhi, India, as people rush to exchange discontinued currency notes, on November 16, 2016. On November 8, Prime Minister Narendra Modi had abruptly announced in a nighttime TV address that all 500- and 1,000-rupee notes were to be immediately withdrawn from circulation, to fight corruption and target tax evaders. Photo: AP

So Indian currency ban led by Modi was a costly but pointless exercise?

Topic |   India

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Snaking queues at a bank in New Delhi, India, as people rush to exchange discontinued currency notes, on November 16, 2016. On November 8, Prime Minister Narendra Modi had abruptly announced in a nighttime TV address that all 500- and 1,000-rupee notes were to be immediately withdrawn from circulation, to fight corruption and target tax evaders. Photo: AP
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