Almost the entire quantum of Rs 500 and Rs 1,000 notes have come back. Some say this is a failure of demonetisation or the note ban strategy, which was aimed at unearthing black money held in cash. The government has provided no official explanation behind the note ban that is backed by hard data. So, there is no yardstick by which to judge this policy. But even someone like me, a sceptical, long-time observer of the Indian system is quite bemused that people have found so many ingenious ways to beat the note ban. Here is a list of what
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