Demonetization did help eradicate black money in India to some extent but it had adverse effects also.
The move was sudden and people were not ready for it.
Only 5 people or so in 100 used online payment methods and rest had either no idea about or were reluctant because of security reasons.
Demonetization saw regular notes of 500 rupees and 1000 rupees vanish immediately after the announcement and now other notes are also being replaced and new ones have also been introduced like 200 rupee and 2000 rupee.
Demonetization did bring some but at what cost;
When demonetization was introduced, people had to hand over their old notes to the banks and the new ones were not being offered on exchange, instead people could only withdraw a mere 2000 rupees a day and 10000 rupees a week, that is $150 a week.
People had to stand in long queues.
I remember an incident when a pregnant woman gave birth to a child while she was standing in a queue.
Some people even died in queues.
People had to leave their work and wait for their turns just to get some money to feed their families.
Coming to "Jio", the services provided by then are awesome.
They even offered free data and calling for the first year.
Jio has revolutionised the Indian telecom industry.
The cost of their services is so cheap that almost every Indian has switched to Jio.
@minnowsupport thank you for sharing this