analyse the role played by demonetisation in controlling the money supply in the economy

Dear Student,
Due to demonetisation , currency note of a particular denomination ceases to be a legal tender, are reduced to that extent and also the amount of currency in circulation declines.
Effect of demonetisation is neutralised when the demonetised currency is replaced with new accepted currency notes.
But due to demonetisation, in short run, the money supply was reduced and people do not had money in their hands.
Regards