Truth vs Hype: Note Ban's 1% Success Rate?

Was demonetisation a 99 per cent failure? That is the conclusion drawn by much of the analysis after the Reserve Bank of India or RBI revealed that 99 per cent of cash banned by the government has come back into the system. In response, the government has moved the goalposts, and come out with a deluge of data to show that notes ban has been a success -- from reducing terrorism, to a greater formalisation of the Indian economy. We sift through the numbers to test if these new claims are truth or hype.