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Summary | 5 Annotations
Nov. 8, Modi blindsided citizens by announcing on national television that their 500 rupee and 1,000 rupee ($15) notes would be worthless come midnight
2016/11/22 13:05
The decision rattled the world’s second-most populous nation, where cash dominates day-to-day life
2016/11/22 13:06
Most of India, data show, is unfamiliar with the available options.
2016/11/22 13:12
One reason for the lack of technological options is that the availability of third-generation mobile spectrum and broadband is limited. Of India’s 1.3 billion population, less than 300 million use the Internet. Of the total number of Indians who own a mobile phone, only about 26 percent have smartphones, which are essential to run payment apps.
2016/11/22 13:12
This is by far the most sweeping change in currency policy that has occurred anywhere in the world in decades."
2016/11/22 13:13