I did a little video about this last week: http://wakey.io/47 and tl:dr; All this does it punish the poor for using cash.

It's not so much that demonetization is bad - it's that it's hard to do with no notice. in a country this big. all at once. with so little time to phase out old bills. All the proposed benefits: more ecommerce, reduced black market transactions, better tax accountability could have been accomplished without going to such extremes. I mean, India isn't even using polymer bills yet -- so there will be at least one more big demonetization in the next 10 years.