No. They withdrew the 500 and 1000 Rupee bills in circulation in 2016, which was around 86 percent of all the cash in the country, which is the 6th largest economy in the world at present. But cash circulation is almost back to normal by now.

As far as I know they didn't, about 2 years ago they just replaced several high value bills over night to battle corruption (you essentially had to go to a bank to get your old bills replaced, which in turn layed open your income/wealth).