Sunday, December 25, 2016

Demonetization Update

It's been 48 days of Modi's demonetization policy and it is a time for a further update. Since the day of announcement of this policy on the evening of 8th November the prime minister of India Narendra Modi is shifting the time scale of his promises about when the pain of people, due to demonetization, will end. In his original speech he promised that in 2-3 days everything will be normal. Then he said give me 50 days and all your woes will end, and if not then he said punish me in public! Later he realized even this 50 day limit is not going to be enough so he said after 50 days slowly slowly the situation will start getting normal! Bankers are now saying that after the 50 day limit it will be impossible to give full cash money to depositors because the cash crunch is still as it was in the beginning and it will continue for many more months!

I was recently interviewed by the globe trotting investment advisor Mr. Jayant Bhandari on the demonetization issue. Below is our talk as a further update.

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