CNBCのインスタグラム(cnbc) - 11月30日 07時24分

India pulled 86% of its cash out of circulation. It’s not going well. Tens of thousands of people have taken to the streets of India to protest an economic policy you may not have heard of before: demonetization. Indians were suprised by the policy 3 weeks ago, when Prime Minister Narendra Modi banned 500- and 1,000-rupee notes in a bid to tackle "black money" and corruption. The ban instantly meant that 86% of all the cash in circulation in India was no longer considered legal tender. And the Indian economy runs on cash: It's estimated that between 90 and 98% of all transactions in India involve cash. So how does Modi's controversial ban work? Read all about it, on CNBC.com, at the link in bio.

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