A little more than a month after India announced the unprecedented demonetisation scheme on November 8, Venezuela did the same by removing the country's highest-denomination banknote from circulation - the 100-bolivar note on December 12.

And now, a report suggests that the Australian government might carry out a similar move. The country could ban its highest value $100 note along with curbs on large cash payments. 

Source: b'$100 in Australia'

While reports have been quick to link these steps with the Indian government's, here's a quick comparison based on initial reports:

The percentage of the banned currency in use

Time given by the government

Source: b'In Venezuela / Reuters'