Demonetisation - India joins the ' Global War on Cash ' to defeat Black Economy & Crimes India has banned current high value currency notes to initiate a was on cash to address illegal funding for criminal activities and black economy. India is not the first country to initiate War on Cash. Let’s us understand with a list of examples from around the world of how cash payments are being regulated, restricted and phased out. I f you have more information on any country please share. .. Emergence of Cashless Societies: ARGENTINA – Argentina’s currency crisis has been known for some time. In short, Argentinians don’t trust the peso and are willing to pay premium for any currency they perceive as “more stable,” especially US dollars which are traded on the black market as “blue dollars” at prices far exceeding the official exchange rate. Argentinian government mandated that banks report every credi...