Was the demonetisation a success or failure? Various government claims and the subsequent lacklustre results leave no doubt that the demonetisation has resulted in no significant utility to the nation and caused considerable damage.
There are multiple accounts of official spokespersons referring to the government using the money of citizens deposited into their bank accounts for development of infrastructure and other government spending. This is alarming. The money owned by individuals is not government property.
As soon as the demonetisation of Rs.500 and Rs.1000 notes was announced, I had said that it was a forced and public funded "bailout" of banks. This article examines news reports from the last year and explains how I arrived at the conclusion.