The Big Reverse: How Demonetization Knocked India Out

01 December 2018

Meera H Sanyal

Though the demonetisation exercise of November 2016 was meant to eliminate black money, corruption, tax evasion and terror funding, the return of 99.7 percent of the banned 500- and 1,000-rupee notes showed that this aim was misplaced. Instead, demonetisation caused enormous distress for farmers and traders and forced many micro, small and medium businesses into bankruptcy. The banker Meera Sanyal offers a comprehensive account of the repercussions of the policy, explaining what it meant for the banking sector and the general public.

HarperCollins India, 216 pages, Rs 599