The Impact of Demonetization and the Supreme Court Decision

20% of Indians don't have a bank account, even if they do. Millions of people get paid for their labor in cash and use it to buy things. The ones who regulate this cash are the central authority on all things money. On 8th November 2016, the Indian government decided to play the role of money manager. It took matters into its own hands by demonetizing 86% of India's currency. Supreme Court heard both sides of the argument but ruled that 'demonetization is legal'