What happens when money — at least in coins and bills — no longer stands, in its physical form, as the preferred method of exchange? Two recent examples, far flung across the globe, stand out. Recent developments in India and Venezuela show government initiatives at...
Turns out the cash crunch in India is having far enough reaching effects that it is bringing even some unicorns down to earth in that country. The big three of eCommerce in India, Amazon, Flipkart and Snapdeal last week were hit by cash on delivery...
The country’s decision to discontinue the 500- and 1,000-rupee banknotes earlier this month in an attempt to curb fraud, corruption, illegal tax evasion and illegal cash holdings has actually brought about a rise in money laundering schemes. According to The Wall Street Journal, business owners...
At least some quantification of the initial impact of part of the initiative of the 500-rupee and 1,000-rupee note bans are in. The Financial Times reported that in India, $80 billion worth of the currency notes have been returned to banks. That activity follows the widely reported ban on the...
December 12, 2016
There may be a winner that emerges from the snafus and snarls caused by the demonetization of Indian notes that have effectively paralyzed parts of the economy: cashless payments. As has been widely reported, the ban on 500- and 1,000-rupee Indian notes, which took effect last month, removed a huge chunk of currency from physical circulation, […]
December 06, 2016
What happens when money — at least in coins and bills — no longer stands, in its physical form, as the preferred method of exchange? Two recent examples, far flung...
December 01, 2016
Turns out the cash crunch in India is having far enough reaching effects that it is bringing even some unicorns down to earth in that country. The big three of...
November 28, 2016
The country’s decision to discontinue the 500- and 1,000-rupee banknotes earlier this month in an attempt to curb fraud, corruption, illegal tax evasion and illegal cash holdings has actually brought...