What good or bad Demonetization has brought to the country is actually still a conclusion, which remains too distant, industry experts opine the move has set a tone for formalising an economy which is predominantly being run on cash. “Going digital & cashless has helped in formalising the Indian Economy & increasing financial inclusion.” The government doesn’t use the term demonetisation, it prefers “note ban”, and the illegalising of Rs 500 & Rs 1000 notes on November 8 is popularly known as notebandi in Hindi. A bone of contention between the government and the Opposition parties, the note ban was a highly secret move that shook the whole nation, drawing both criticism and praise from different quarters. However, the goalpost on its objective was gradually shifted, with the government saying that the note ban decision would lead to the formalisation of cash economy as money flow through digital means can be tracked easily.c