• Tuesday, November 29, 2022


Tens of thousands protest against India cash ban

Banks have struggled to cope with the demand for new notes

By: Eastern Eye Staff

TENS of thousands of people turned out today for nationwide protests against India’s ban on high-value banknotes, which opposition party organisers claim has caused a “financial emergency”. India’s Prime Minister Narendra Modi announcement nearly three weeks ago to pull 86 per cent of the currency from circulation overnight triggered a chronic shortage of notes in an economy that operates almost entirely on cash. Around 25,000 people took to the streets in Kolkata, capital of West Bengal state, whose left-wing chief minister Mamata Banerjee has warned of “riots and epidemics” if the ban continues. An estimated 6,000 more turned out to…

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