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Tag Archives: Black Money

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India struggles to find its feet after demonetization 

22nd Nov 2016, Nikkei Asian ReviewBy Chaitanya KalbagOctober 9, 20243 Comments

Chaitanya Kalbag, Contributing writer Every Indian bank note carries two reassuring messages: “Guaranteed by the central government,” and above the signature of the governor of the Reserve Bank of India, the words: “I promise to pay the bearer the sum of … rupees.”   At midnight on Nov. 8, Indian Prime Minister Narendra Modi used…

India pays the price of demonetization 

9th Dec 2016, Nikkei Asian ReviewBy Chaitanya KalbagOctober 9, 20242 Comments

Modi’s war on black money has hit India’s economy. Is the price worth paying?  Chaitanya Kalbag, Contributing writer One month after Indian Prime Minister Narendra Modi announced the demonetization of 500 and 1,000-rupee banknotes in his battle against black money, policymakers in New Delhi are finally starting to acknowledge that the shock move has caused…

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