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An exclusive first hand look into the currency controls in India

Cory
November 11, 2016
Comments (3)

Our friend Jayant Bhandari is currently in India and shares with us a first hand view of what is happening with the ban of 500 and 1000 Rupee notes. We thanks Jayant for waking up early on Saturday to let all of us know what the Country is going through.

You can check out Jayant’s free website here.

Click download link to listen on this device: Download Show

Discussion
3 Comments
    FranSix
    Nov 12, 2016 12:05 AM

    They can cancel currency denominations, but they can’t cancel gold. Mostly people will have to rely on electronic transactions if they haven’t done so already. What are the statistics on the use of debit and credit cards in India?

      Tad
      Nov 12, 2016 12:24 AM

      Percentage wise, extremely low I would say.
      A lot of people have little more than a couple of changes of clothes. Cash is king.
      Bank accounts are for those with money….

    james
    Nov 12, 2016 12:14 AM

    Banks and Government are corupte !