The multiple leaks in our banking system
| Julia Tim/shutterstock.com
There is a raging market for old notes and the demand is reportedly coming from banks
The government’s demonetisation exercise, far from ridding the economy of black money, could actually be increasing the amount of unaccounted cash in the system in a very real way. The root cause for this is that, however well-intentioned an idea may be, it doesn’t stand a chance against the sheer corruption of the middle-manager. In this case, that would be the bank manager, both private and publ...
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