Modi’s Cash Crackdown Failed, Indian Bank Data Shows
I have listened to both the planet money episodes (I love Planet Money podcasts). I&#x27;m from India, living in US for more than 10 yrs. So I kind of have enough perspective of how Demonetization is seen within India and from outside India, including based on knowing personally who benefited or got screwed by demonetization, and who were left unscathed.<p>Must say, with what I have known about the medium and long term after affects of demonetization, I found NPR &#x2F; Planet Money&#x27;s research &#x2F; info in the podcast terribly biased. This bias is sort of ironic since it is from a radio station that is very pro-democrat from a country that keeps harping about &quot;Trump won because Russia&quot; even though the process was as democratic as it could be.<p>Like NPR, NYT is also extremely biased against the current Indian administration, while simultaneously being subtly (sometimes overtly) anti-Hindu &#x2F; anti India.<p>I sincerely listened to the Planet money episodes hoping to find some genuine shortcomings of the demonetization process, but was totally disappointed at the kind of propaganda based content they came up with! Sadly, NYT does the same with this piece of writeup.<p>There are many, many +ve effects (short, medium term) that I can talk about. But the main -ve point of this whole process is that one round of demonetization is not enough. A few more rounds of demo, and crooks will have enough fear in even accepting cash for bribes and probably will need to resort to barter system.<p>I personally know many who stashed illegal unaccounted money in gunny bags, and have suffered a blow to their wealth (as I wished) and I know a few who have had their black money stash replenished partially after a year of demo.<p>In either case, it was very heartening to see those who slept on mattresses made of cash suffer and struggle.