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Demonetised, Delinked
As smaller denominations get demonetised, it’s the marginalised urban poor and the lower middle class who get delinked from local economic narratives.
I would like to acknowledge the timely support of K Ramgopal, who spared his time and his bike to help a “common” journalist move around the city of Hyderabad, an otherwise near-impossible task.
Saturday, 19 November, Hyderabad (10 days into the money crisis): Thought for the day—India, one of the world’s “fastest-growing economies,” has no cash in any of its banks!
Ramakrishna, a security guard at one of the nationalised bank ATMs, told me: “For the first time in my life, I learnt that even banks can go bankrupt! I always assumed banks are full of money.”
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