India has been suffering from cash shortages since it banned high denomination currency notes in November
Since the ban was announced, many Indians have stood in long lines at banks to get money. And, banks are not giving customers the amount they demand as the banks run out of money faster than it is replaced.
The currency ban was a major step to curb corruption and wipe out illegal money. Has it helped?
Interestingly, even during the two previous episodes of demonetisation of high value notes over `100 in India, on 12 January 1946, and on 16 January 1978, the objective of the exercise was containing black marketing or black money. The cash shortage may have already affected the prices of perishable goods and services. Prices of vegetables in wholesale markets, according to newspaper reports, have fallen significantly.
Why has India’s Supreme Court ordered the country’s cricket board chief to resign?
India's Supreme Court has ordered the country's cricket board chief to resign for failing to implement reforms. The court on Monday told Board of Control for Cricket in India (BCCI) president Anurag Thakur to quit. It had recommended sweeping changes in the BCCI following allegations of spot-fixing and betting in the 2013 edition of the Indian Premier League (IPL) tournament.