There’s no money left

India unbound

‘Sir, cash nahi hai/ I am sorry Sir. The cash has run out’. The uniformed ATM security guard held up his hand as I made my way to what appeared to be the only cash point in Delhi without a 50-person queue. 13 November 2016 is probably not a good day to arrive in India. A few days ago the Prime Minister, in a move aimed to expose ‘black money’ or unaccounted cash in the economy, announced the demonetization of the two largest bank notes – the Rs 500 and Rs 1000. But these days, when 86% of the nation’s currency has been taken out of circulation, I have little cause for complaint, compared to the millions who depend upon cash for their daily existence. It is not just that petty traders, hawkers, small shop keepers, vegetable and fruit sellers and all manner of people working in India’s vast informal…

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