Soc Gen: India Move To Cashless Society Hurting Economy
On December 7, the Reserve Bank of India, going against consensus expectations, did not cut interest rates – underlying the assumption that the Indian economy, in the midst of moving to a cashless society, was doing fine, was doing just fine. This assumption is incorrect, says a December 12 Societe Generale report. Also incorrect is the assumption that “demonetization” will achieve its goal of curbing the black market in India. It's not happening and the economy is suffering as a result, a trend that the bank says . . .
SORRY! This content is exclusively for paying members. If you are subscribed and having an account error please clear cache and cookies if that does not work email [email protected] or click Chat.
|
