Banks struggle to dispense cash in India, anger rising

By REUTERS
November 12, 2016 10:00

Anger was rising across India on Saturday as banks struggled to dispense cash after the government withdrew large denomination notes in a shock move aimed at uncovering billions of dollars of unaccounted wealth hidden from the taxman.

Hundreds of thousands of people stood outside banks for a third day for long hours trying to replace 500 and 1,000 rupee bank notes that were abolished earlier in the week.

These bills made up more than 80 percent of the currency in circulation leaving millions of people without cash and threatening to grind large parts of the cash-driven economy to a halt.


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