{
 "no": 2,
 "id": "case-2",
 "sk": 20161108,
 "year": 2016,
 "date": "08 Nov 2016",
 "cat": "Economic shock",
 "sev": "red",
 "title": "Demonetisation. Savings voided overnight",
 "stamp": "No one answered for it",
 "human": {
  "v": "Cash-wage workers, farmers and traders across the country; <b>100+</b> deaths reported in queues and in the distress that followed",
  "est": true
 },
 "cost": {
  "v": "~<b>₹1.5 to 2 lakh cr</b> est. output loss; <b>99.3%</b> of the banned notes came back to the RBI",
  "est": true
 },
 "what": "₹500 and ₹1,000 notes, about 86 percent of cash in circulation, were voided with four hours of notice to kill black money, counterfeits and terror funding.",
 "timeline": [
  {
   "sk": 20161108,
   "on": "8 Nov 2016",
   "kind": "incident",
   "what": "₹500 and ₹1,000 notes, about 86 per cent of the cash in circulation, are voided with four hours of notice, to kill black money, counterfeits and terror funding."
  },
  {
   "sk": 20161201,
   "on": "Nov to Dec 2016",
   "kind": "silence",
   "what": "The cash-poor queue for weeks. The stated aim shifts from black money to digitisation once the first claim starts to look unsupportable."
  },
  {
   "sk": 20180829,
   "on": "Aug 2018",
   "kind": "action",
   "what": "The RBI reports that almost all of the voided cash came back, so almost no unaccounted wealth was destroyed."
  },
  {
   "sk": 20180901,
   "on": "2018 onward",
   "kind": "silence",
   "what": "Nobody resigns. No review admits error. The suffering was inflicted on the cash-poor; the reckoning was inflicted on nobody."
  }
 ],
 "dodge": "The RBI later reported almost all the cash returned, so almost no unaccounted wealth was destroyed. No one resigned. No review admitted error. The stated aim simply shifted from black money to digitisation once the first claim collapsed. The suffering was inflicted on the cash-poor; the reckoning was inflicted on nobody.",
 "ministers": [
  {
   "n": "Narendra Modi",
   "r": "Prime Minister"
  },
  {
   "n": "Arun Jaitley",
   "r": "Finance Minister"
  }
 ],
 "pos": "The government maintains it widened the tax base and accelerated digital payments.",
 "alt": "An honest cost-benefit review against the original goals, and a hunt for black money where it actually sits, in benami property, shell firms and opaque political funding, not in a daily-wager's pocket.",
 "sources": [
  {
   "label": "RBI Annual Report 2017-18: SBNs returned",
   "url": "https://rbi.org.in/Scripts/AnnualReportPublications.aspx?Id=1239",
   "tier": 1,
   "archiveUrl": "http://web.archive.org/web/20260104101626/https://www.rbi.org.in/scripts/AnnualReportPublications.aspx?Id=1239"
  },
  {
   "label": "PIB: text of PM's address, 8 November 2016",
   "url": "https://archive.pib.gov.in/newsite/PrintRelease.aspx?relid=153404",
   "tier": 1
  }
 ],
 "estimates": {
  "costInrCrore": 200000,
  "deaths": 100
 },
 "caseUrl": "https://whoisresponsible.xyz/case/case-2/"
}