Well govt changed course mid-way by allowing people to deposit money and pay fines, lock-in period etc. It effectively ensured that most money would come in because any money left after fines and all is gain to hoarders as compared to zero by not depositing at all.

But it was effective if people and businesses switched to using banks. That could happen even if no black money was trapped. Get rid of petty and unintended corruption, and they you can focus on the truly corrupt whom this change hasn't affected.

Yes, all the farmers got free bank accounts, as well as everyone who buys from them. /s

Thanks - that gives a better overall picture than the NYT article.