Shamika Ravi on implications on govt’s demonetisation move

Speaking about Prime Minister Narendra Modi’s announcement to demonitise Rs 1000 and Rs 500 notes, Senior Fellow Shamika Ravi in this Facebook Live says the next few months will be painful, and should be seen as teething troubles for an economy trying hard to reform its corrupt self.

As an economy we should aim to go less-cash, and not cash-less, she says.

Scaling back large bills will not end crime, but it will force the underground economy to employ riskier and less liquid payment methods.