India

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India promises ‘black money’ ban will help the poor even if it hurts now

Prime Minister Narendra Modi abruptly thrust India into chaos last Tuesday when he banned the 500- and 1,000-rupee bills – the two largest denominations – to root out counterfeits, corruption, terrorism financing and tax evasion. But growing bank lines are becoming more dramatic, laundering inquiries are trending on Google, and the poor are wondering when they’ll benefit as Modi has promised.

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