India recently introduced abrupt, drastic reform of its currency. The government announcement on November 8th that the 500rupee and 1000rupee, two highest denomination banknotes, would not be accepted at once. Holder could deposit them in banks or swap them until end of year. Pleaseprovide information concerning this reform in more detailsanddiscuss the (possible) economic consequences. Use economicmodel(s), equations, and figuresifit is needed.