FT Transact
Where Does Cash Matter Most? Demonetisation shakes the sub-continent
More and more governments are aiming to phase out cash, ostensibly to curb tax avoidance and criminal activity, while some countries are making leaps and bounds towards a cashless future without a backwards glance. But for the more than two billion people globally still without a bank account, cash remains a vital part of daily life.
Martin Wolf, chief economics commentator, explains why rapid demonetisation can do more harm than good.
Read the latest news on India's demonetisation here: http://on.ft.com/2tJ0i6l
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