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Ten years ago, Indians were asked to surrender the use of their own money with only four hours notice. It was a shock-and-awe operation. At 8 pm on November 8, 2016, Prime Minister Narendra Modi announced on television that existing Rs 500 and Rs 1,000 notes would cease to be legal tender at midnight. They represented about 86% of the currency in circulation. Holders could deposit them in banks, but the replacement new cash notes were scarce. The system was not ready. Many ATMs were yet to be recalibrated. The right to spend their own savings had been suspended.