In November 2016, India's sudden withdrawal of 500- and 1,000-rupee notes produced huge queues even before banks reopened. Reuters reported police managing crowds as customers tried to deposit old currency or exchange it for new notes. The withdrawn denominations represented a large share of the cash in circulation.
The government presented demonetisation as an attack on undeclared wealth and counterfeit money. Yet the people in line were not simply owners of hidden fortunes. Many received wages and bought necessities in cash, and had to make ordinary money usable again. Cash machines also needed adjustment for the dimensions of the new notes, pushing more demand towards bank counters.
Reuters contemporaneously documented people rushing to banks to exchange withdrawn banknotes after India’s 2016 demonetisation.