The removal of 500-rupee and 1,000-rupee notes from circulation in India have caused all sorts of unintended consequences, and those unintended consequences could be far-reaching and long-lasting across broad swaths of the economy. As reported by a number of news outlets, there have been any...
On Tuesday (Nov. 8) India’s government issued a ban on high-denomination banknotes, which has resulted in lenders bringing in 2 trillion rupees ($29.8 billion) as customers across the country try to deposit the old bills, Bloomberg reported. Not only has the decision left people waiting...
And just like that, two swaths of Indian currency are gone. Prime Minister Narendra Modi has announced that the country’s 500-rupee and 1,000-rupee banknotes are no more, on the outs, and are being taken out of circulation. As reported by the BBC, taking those notes out...
March 22, 2018
In late 2016, India’s government surprised the world with a decision to push the race for payment digitization from a marathon to a sprint, by deciding to scrap nearly 85 percent of the nation’s physical currency reserves almost overnight. The move was highly controversial – and widely criticized. And, especially at first, it caused a […]
November 21, 2016
The removal of 500-rupee and 1,000-rupee notes from circulation in India have caused all sorts of unintended consequences, and those unintended consequences could be far-reaching and long-lasting across broad swaths...
November 15, 2016
On Tuesday (Nov. 8) India’s government issued a ban on high-denomination banknotes, which has resulted in lenders bringing in 2 trillion rupees ($29.8 billion) as customers across the country try...
November 08, 2016
And just like that, two swaths of Indian currency are gone. Prime Minister Narendra Modi has announced that the country’s 500-rupee and 1,000-rupee banknotes are no more, on the outs,...
