Journalism of Courage
Demonetisation
In a notification issued on November 8, 2016, the Bharatiya Janata Party-led Central government demonetised Rs 500 and Rs 1,000 currency notes. The move was aimed at fighting black money and incentivise the use of electronic modes of payment. On January 2, 2023, the Supreme Court upheld the Centre's decision in a 4:1 majority verdict, saying that the move “does not suffer from any flaws in the decision-making process”. A dissenting judge, Justice B V Nagarathna, however, said that the Government should have brought an ordinance or a law in Parliament to implement the noteban. Demonetisation is a radical monetary step in which a currency unit’s status as a legal tender is declared invalid. This is usually done whenever there is a change of national currency, replacing the old unit with a new one. In India, it was first implemented in 1946 when the Reserve Bank of India demonetised the then circulated Rs 1,000 and Rs 10,000 notes.
DEMONETISATION NEWS
Rs 60-crore ‘fraud’ case: Raj Kundra claims his business suffered loss due to demonetisation
October 10, 2025 2:40 pm
The Mumbai police's Economic Offences Wing visited the residence of businessman Raj Kundra and his actor-wife, Shilpa Shetty, last week, and recorded their statements in connection with the alleged Rs 60 crore cheating case. Kundra's initial statement was recorded on September 15, but he agreed to provide a second round of statements, said a senior officer.
Congress whip in LS writes to FM: Shortage of Rs 10, 20 and Rs 50 notes affecting the poor
September 22, 2024 5:43 am
“The shortage has resulted in difficulties for small businesses, street vendors, and daily wage earners who rely heavily on cash transactions,” said Tagore.
Election bonds order: A look at other Modi govt policy decisions challenged in SC, and what followed
February 17, 2024 9:04 am
These include Aadhaar, CAA, Article 370, NCT powers, NJAC, demonetisation, and others. In most cases, SC has ruled in the govt's favour
As Rs 2000 notes reappear in market after a long lull, 'Conditions Apply' say business owners
May 23, 2023 8:31 am
While some establishments are accepting the notes without any fuss, others are citing a lack of change or are accepting them on the condition that the bill should be Rs 2,000 or close to it.
Sanjay Raut flays Centre over 'failed demonetisation', recalls PM Modi's statement on being 'hanged publicly'
May 22, 2023 2:47 pm
In a dig at the Sena faction led by Eknath Shinde, Sanjay Raut said Shinde’s MLAs had received 50 khokas (boxes of money) in Rs 2,000 notes and were now seeking to exchange them.
Gold traders cautious but grain wholesalers of Pune say RBI’s move to withdraw Rs 2,000 notes won’t affect them
May 20, 2023 6:46 pm
The Reserve Bank of India (RBI) announcement of the withdrawal of Rs 2,000 notes has had an overnight impact on gold and grain market traders.
Why RBI has withdrawn Rs 2,000 notes, what you should do with yours
May 21, 2023 9:05 am
The RBI, in a statement on Friday, said that all Rs 2,000 currency notes must be exchanged before September 30, 2023
What happens to your Rs 2,000 notes now? All your queries answered
May 21, 2023 9:05 am
The Reserve Bank of India has decided to withdraw Rs 2,000 denomination banknotes from circulation and asked all to exchange them by September 30,2023.
Remarks over which Rahul is facing defamation cases
March 24, 2023 4:09 am
Ahmedabad magisterial courts due to hear 2 defamation suits on july 1
SC refuses to consider individual cases for accepting demonetised currency notes, directs petitioners to approach Centre
March 21, 2023 7:34 pm
The top court also directed the Centre to decide its representation on the exchange of demonetised notes within 12 weeks.
DEMONETISATION VIDEOS
‘Think of it the other way, not about govt raiding RBI, but how RBI could have behaved differently’
June 22, 2020 6:07 pm
In this edition of the Idea Exchange, Former Chief Economic Adviser Arvind Subramanian talks about demonitisation, defends GST, explains the reasons why growth has not been robust and reflects back on his tenure as Chief Economic Adviser of India.
The Agrarian Unrest Part 1: This could be the Narendra Modi government’s biggest problem
June 22, 2020 6:09 pm
Thousands of farmers from across the country have taken to the streets. ‘Dilli chalo’ is their slogan. What do they want? And is agrarian distress this government’s biggest problem? Harish Damodaran explains.
Why a leader is aligning with someone is more important that who aligns with who; Mamata Banerjee has a major role: Amit Mitra, Bengal Finance Minister
June 22, 2020 6:10 pm
Bengal FM Amit Mitra talks about demonetisation, the problems with GST, failing Centre-state relations, the need for protecting and building institutions such as the RBI and CBI, investments in the state, and what the BJP “doesn’t get about Bengal".
Express Eye for Detail Ep 12: Two years of demonetisation, the Diwali mess and Faizabad renamed as Ayodhya
June 22, 2020 6:11 pm
Two years on, The Indian Express learns that RBI did not approve of demonetisation and more about the week’s top stories in Express Eye for Detail episode 12.
How demonetisation and GST hit MSMEs: News in Numbers
June 22, 2020 6:11 pm
Two years on, we look at how demonetisation (and GST) had an adverse impact on micro, small and medium enterprises or MSMEs. Here are some of the concerns that MSMEs are dealing with.
Demonetisation, a success? Is it still a question: News in Numbers
June 22, 2020 6:17 pm
The shortage of cash, decline in GDP, loss to small businesses and daily-wage workers - was it all worth it if most of the demonetised money is back in the system?
Rahul Gandhi Has A New Avatar!
June 22, 2020 6:30 pm
Demonetisation: RBI recovers almost all banned notes
June 22, 2020 6:55 pm
Rs 1,000 Notes To Be Back In A New Avatar: Here's All You Need To Know
June 22, 2020 7:10 pm
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