Cash ban slims big fat weddings
By Agence France-presse in New Delhi | China Daily | Updated: 2016-12-02 07:28
Jatin Pal's wedding was just days away and his family were finalizing plans for an extravagant multiday celebration - then Indian Prime Minister Narendra Modi banned high - denomination notes overnight, casting a dark shadow over the festivities.
Within hours of Modi's surprise Nov 8 announcement, 500 and 1,000 rupee ($7.25, $14.50) notes - some 85 percent of all cash in circulation - were withdrawn, leaving millions across the vast country out of pocket.
The move - described by the prime minister as a "surgical strike" against corruption and tax evasion - coincided with the start of India's annual wedding season, when thousands marry during a three-month period deemed auspicious in the Hindu faith.
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