• Monday, May 23, 2022

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Modi defends India cash ban after criticism

Cash transactions are widely popular in India

By: Eastern Eye Staff

INDIA’S Prime Minister Narendra Modi hit back today at the mounting criticism of his decision to withdraw all high-denomination bank notes from circulation, describing the move as “for the larger social good”. The November 8 move to ban the 500 and 1,000 rupees notes – some 85 per cent of all bills in circulation – as legal tender has sparked turmoil in the vast cash-reliant nation. Long queues have formed outside banks across the country as people try to get rid of their old notes, and the government has repeatedly changed rules surrounding the exchange process in response to pressure…

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