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Indeed, I suspect demonetization was in part a scheme to replenish the reserves of the state banks.
by throwawawy42348 8y ago
Indeed, I suspect demonetization was in part a scheme to replenish the reserves of the state banks.
- throwawawy42348 8y ago... of course low credit rate means money has a tendency to go into unproductive sectors (ala Japan's Bubble heydays). (I'm glad to see Economist reflect my understanding.)
- nhauz 8y agoWhy don't you write all of this in just one post?
- vijaybritto 8y agoI think it was bring back cash and also to win Uttar Pradesh state elections. A 100+ plus people died because of that and not many people cared. Sigh
- kamaal 8y ago>>not many people cared No person in India cares much anybody or anything else. Unless they are directly affected by it. People optimize so much personal good, that bad things happening to others are actually celebrated.
- beerlord 8y agoThe Indian population is growing by 1,920 people per hour- so they would have been quickly replaced.