Currency crisis

Wrecking the system

Print edition : December 09, 2016

Vidya Ram, a farmer, exits a bank holding a new Rs.2,000 note in Dadri, Uttar Pradesh, on November 15. Photo: Anindito Mukherjee/Bloomberg

A roadside stall near VOC Park in Coimbatore offers customers the option to pay by paytm. Immediately after the announcement, companies offering financial services, especially e-wallet service providers, launched a media blitzkrieg. Photo: M. Periasamy

The liquidity crisis of unprecedented dimensions that the Modi government has unleashed shocks the economy, drives people to despair and ruin and threatens consequences that have not been fully fathomed yet.

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