www射-国产免费一级-欧美福利-亚洲成人福利-成人一区在线观看-亚州成人

USEUROPEAFRICAASIA 中文雙語Fran?ais
China
Home / China / World

Currency swap sparks frustration

By Associated Press in New Delhi | China Daily | Updated: 2016-11-17 08:15

People are growing skeptical that banknote crackdown will curtail use of 'blackmoney'

The first people showed up at the bank long before dawn, forming a line in the cold and the smog and silently waiting for the chance to withdraw their own money. They left more than seven hours later, each holding the handful of bills, worth $60 at the very most, that they'd been allowed to take home.

By midday, the lines snaked back and forth across the parking lot outside the Axis Bank branch in central New Delhi. Occasionally, a policeman carrying a long bamboo club would slap someone who stepped out of line.

"They keep telling us that that this is good, and maybe they're right," said Shahida Parveen, a 36-year-old woman whose family had almost no usable money left. "But I don't see anything good happening."

This is just one bank, in one city, in a country of 1.3 billion people, millions of them increasingly desperate for cash amid a chaotic government effort to crack down on corruption by banning high-denomination currency notes.

Ill-prepared

Last week, Prime Minister Narendra Modi announced in a surprise nighttime TV address that all 500 and 1,000 rupee notes, worth about $7.50 and $15, would be withdrawn immediately from circulation, a move designed to fight corruption and target people who have been dodging taxes by holding immense stockpiles of cash, known in India as "black money".

In a nation hobbled by corruption, and where less than 3 percent of people file tax returns, the plan at first earned widespread approval.

But as the days ticked by, it became increasingly clear that the government was ill-prepared for a plan that suddenly pulled 86 percent of the country's money supply out of circulation.

Families began hoarding small-denomination currency, merchants reported plummeting business and salaries went unpaid. Many businesses were refusing to accept the only new note rushed into circulation, worth 2,000 rupees, because they were unable to make change for it. The government says it's also trying to get new 500-rupee bills into circulation, but they remain rarities.

Modi acknowledged the transition to the new currency might be briefly difficult, but said the government "spent long hours trying to figure out how to minimize the inconvenience".

But in the parking lot outside the Axis Bank, customers were unconvinced.

"This is only to harass people like us," said Parveen, a stay-at-home mother whose husband works as a small-time broker for rental properties, but has had no work for the past week.

Hundreds of millions of Indians do not have bank accounts and use only cash. Many businesses only accept cash. "The people with all the black money, they'll find a way to manage," she added.

She's right. The price of gold spiked in the hours after Modi's announcement, as the rich looked for ways to get rid of their old currency. Accountants say there has been a surge in questions about laundering cash, with one saying a client had come in admitting he needed to get rid of more than $5 million in discontinued notes.

The government, meanwhile, insisted all was well.

The "public need not be anxious," said a weekend statement from India's national Reserve Bank. "Cash is available when they need it."

 Currency swap sparks frustration

People line up outside a bank in New Delhi, India, on Tuesday, days after the government announced that 500 and 1,000 rupee notes will cease to be legal tender.Ravi Choudhary / Getty Images

Editor's picks
Copyright 1995 - . All rights reserved. The content (including but not limited to text, photo, multimedia information, etc) published in this site belongs to China Daily Information Co (CDIC). Without written authorization from CDIC, such content shall not be republished or used in any form. Note: Browsers with 1024*768 or higher resolution are suggested for this site.
License for publishing multimedia online 0108263

Registration Number: 130349
FOLLOW US
主站蜘蛛池模板: 韩国成人毛片aaa黄 韩国福利一区 | 伊人黄色片 | 成人久久18免费网站 | 久草精彩视频 | 国产va精品网站精品网站精品 | 国产不卡一区二区三区免费视 | 精品国产亚洲一区二区在线3d | 色涩亚洲 | 一级 黄 色 片免费 一级aaaaaa毛片免费 | 另类欧美日韩 | 国产欧美一区视频在线观看 | 九九在线观看视频 | 亚洲欧美一区二区久久香蕉 | 免费人成黄页网站在线观看国产 | 欧美激情国产一区在线不卡 | 国产亚洲精品国产 | 黄色美女视频免费看 | 免费毛片视频网站 | 一级片网站在线观看 | 在线播放精品一区二区啪视频 | 欧美日韩一区二区三区在线观看 | 久久国产视频一区 | 欧美午夜免费一级毛片 | 欧美特黄一级高清免费的香蕉 | 性福利视频 | 免费视频18| 日本一级在线播放线观看视频 | 国产三级日本三级在线播放 | 国产精品亚洲欧美日韩一区在线 | 91原创视频在线观看 | 国产大乳喷奶水在线看 | chinese情侣真实自拍 | 欧美做爰孕妇群 | 特黄特色三级在线播放 | 手机看片神马午夜片 | 久草视频播放 | 国产成年人 | 美国一级欧美三级 | 美女张开腿让男人捅爽 | 国产成人永久免费视频 | 中文字幕毛片 |