Poor hardest hit by India's currency changes

India has faced massive cash shortages after it announced it would scrap a large part of its currency last month.

Voice of America correspondent, Anjana Pasricha, spoke to 702's Stephen Grootes about what has transpired on the ground since the changes.

The situation has been really grim in India since it banned 85% of the currency overnight.

Anjana Pasricha, correspondent

The decision by Prime Minister Narendra Modi was made in efforts to prevent the use illegal money in the economy. However, the government has struggled to print enough money to circulate and meet consumer demand.

A contributing factor is that 90% of transactions in the Asian powerhouse are done in cash However, the poor are the hardest hit due to the changes.

Despite the chaos, many people are fed up with corruption are supportive hoping it will be a clean up.

Anjana Pasricha, correspondent

Listen to the interview below for more on developments unfolding in India:


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