India's cash clampdown
Earlier this month, Narendra Modi, India’s prime minister, declared 86 per cent of the country’s bank notes invalid in a measure aimed at curbing the country’s black market. But the immediate effect was to slam the brakes on the economy. Jonathan...
FT News in Focus · Financial Times
November 28, 20168m 1s
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Show Notes
Earlier this month, Narendra Modi, India’s prime minister, declared 86 per cent of the country’s bank notes invalid in a measure aimed at curbing the country’s black market. But the immediate effect was to slam the brakes on the economy. Jonathan Wheatley discusses the longer term consequences with Kiran Stacey, FT correspondent in New Delhi.
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