demonetization

India’s Demonetisation Drive Drags Down Nepal’s Economy

By Gopal Sharma and Manoj Kumar KATHMANDU/NEW DELHI, Dec 15 – India‘s scrapping of high-value bank notes last month has dragged down economic growth in neighbouring Nepal with trade, remittances and tourist numbers all down, BMI Research, a group company of the Fitch rating agency, said on Wednesday. BMI has revised down its forecast for

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India to Use Indelible Ink to Ensure People Change Cash Only Once

By Neha Dasgupta and Promit Mukherjee NEW DELHI/MUMBAI, Nov 15 – Indian banks will use indelible ink to ensure that people only change old notes for new ones once under Prime Minister Narendra Modi’s scheme to fight “black money”, resorting to a tactic used to prevent multiple voting in elections. The step comes a week

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