Bloomberg (November 16)
2016/ 11/ 17 by jd in Global News
“One week after India’s sudden declaration that 500- and 1,000-rupee notes were no longer legal tender, the economy is in chaos.” Designed to shake out black money, “what seemed at first to be a masterstroke by Prime Minister Narendra Modi now looks like a grave miscalculation.” The move invalidated over 80% of the currency in circulation, crippling the economy. “The central bank has struggled to print replacement denominations—and the new notes are the wrong size for existing ATMs.” It could be months before things return to normal.
