A crisis from which the US bailed out the RBI
One of the conspiracy theories doing the rounds is that demonetisation was the brainchild of sinister American philanthropies as well as companies
Demonetisation continues to bewitch its supporters and baffle its critics. But neither lot has yet come up with tenable explanations of the origins of the policy. Given the magnitude of its impact, it is not surprising that any number of conspiracy theories are doing the rounds. Among the more curious of these is the claim that behind demonetisation lies a “foreign hand"—actually a set of hands. According to this meme, the policy was the brainchild of a digital payments cabal led by USAID and consisted of sinister American philanthropies as well as companies.