The countries in three continents after

Neeraj0104 Jan, 2017Business

Six weeks ago, when prime minister Narendra Modi announced his government’s decision to demonetise Rs500 and Rs1,000 notes, it wasn’t just Indians who were taken aback. World leaders, economists, and international organisations watched the bold experiment with a mix of wonder and worry. Would it work as a means to crack down on unaccounted cash and counterfeit currency in foreign companies subsidiary? So far, Modi’s move has left millions scrambling for cash, hitting consumption and thereby threatening GDP growth in India. Nonetheless, it now appears Modi’s move was just the first of a handful of such year-end demonetisation exercises around the world