India's rural millions pay price of cash ban | Bangkok Post: news - News Summed Up

India's rural millions pay price of cash ban | Bangkok Post: news


Like millions of rural Indians, Mr Khan lives far from a bank and relies almost entirely on cash to pay for food and the seeds and fertiliser he needs. Most of his notes are now worthless unless he can switch them for new ones or deposit them with a rural bank -- many of which are yet to receive the new cash. "The government has robbed us," the 42-year-old told AFP in his native village in Bulandshahr district in the impoverished northern state of Uttar Pradesh. Meanwhile, a worker at one government-owned rural bank said it still had no cash, 10 days after the announcement. "This is simply a rash decision," he told AFP on condition of anonymity.


Source: Bangkok Post November 18, 2016 10:46 UTC



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