india cash ban

Stranded Trucks, Unpaid Workers: India Inc Counts Cost of Cash Crunch

By Suvashree Choudhury and Rajesh Kumar Singh MUMBAI/NEW DELHI, Nov 21 – Like millions of Indians fed up with corruption and counterfeiting, Vimal Somani cheered Prime Minister Narendra Modi’s shock move to replace all high-value banknotes. Two weeks on, his business is being hammered by the ensuing cash crunch. Sales at Somani’s aluminium foil maker,

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India’s Move to Curb Black Money a ‘Disaster’ for Rural Women, Activists Say

By Rina Chandran MUMBAI, Nov 20 – India‘s move to withdraw high-value rupee bills from circulation to crack down on corruption and counterfeit currency has hurt rural women particularly hard, as most of them are outside the banking system, activists said. The shock currency move cancelling 500- and 1,000-rupee ($14.6) notes from circulation overnight, announced

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Modi’s Cash Crackdown Hits Indian Rivals’ Election Campaign Coffers

By Rupam Jain and Tommy Wilkes NEW DELHI, Nov 17  – Indian Prime Minister Narendra Modi’s shock ban on high-value banknotes will hit the war chests of his rivals before a key state election next year, sparking accusations that his strike against “black cash” will unfairly boost his party’s chances. That is despite widespread anger

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