Is Demonetization a good or bad step in India?

Sadly, the reality is the people often tend to take loans and do not pay them back. The reason behind it could be malicious and they may have never intended to pay in the first place, or it could be genuine and they have found themselves in a situation where they are unable to pay. While banks have the right to try to recover the money, do they have the right to use force like a common criminal. The banks knew the risk of giving out loans, and they must have taken something as collateral against the loan, hence their losses are mostly covered, so why should they resort to force?

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