Currently, India faces harmful money problems, singular and rare generally for a nation of a size. Governments of countries with rarely grown financial systems too have due to scratch bank records or during slightest decommission a top denominations.
In India, a supervision announced overnight their dual largest denominations, value roughly US$15 and 7.5 respectively, would stop to be authorised proposal immediately.
Citizens had about one month to modify their money pot into new notes, with many problems being reported around a accessibility of records and prolonged queues during a bank tellers.
As Bloomberg points out, reduction than 10% of all Indians have ever used another remuneration process other than cash, and usually dual percent have ever used a mobile phone to compensate for something.
Other countries too cruise stepping in India’s footsteps. There is a debate in Australia over either a AU$100 note should be cold from circulation, a European Central Bank has already done a preference to phase out