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November 2017 Archives

The aftermath of demonetization in India

One year ago, India made a bold and controversial move. In an attempt to thwart “black money”—which encompasses undeclared wealth, counterfeit banknotes and networks that finance terror activities—the government banned all 500 and 1,000 Rupee notes from use. The hope was that criminals—wanting to avoid exposure—would be afraid to exchange their cash in for smaller denominations and would instead be stuck with heaps of worthless paper.

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