In a shocking anti-corruption announcement, India has scrapped the Rs. 1,000 and Rs. 500 notes. While short-term this will cause inconvenience, this will sweep up lots idle and hidden black money. As PM Modi said, corruption and money laundering are like the “diseases” and “obstacles” to the country’s economic success. This move could bring down inflation, inflation and put a check on money laundering.
- 10 Nov 2016