Even in India, it's not "demonetization". Even though the word demonetization is used loosely, it is actually "remonetization" and "really a currency swap where you could have exchanged your old notes in a certain period and also you still have time to deposit all your old notes in all the banks till the end of the year.

-> Old notes which are now invalid: 500, 1000

-> New notes introduced: 500, 2000

There are plans for new 1000s to be reintroduced and new 100s etc., also to be introduced.