Where Has All the Cash Gone? Three Conspiracy Theories Attempt an Explanation

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Where Has All the Cash Gone? Three Conspiracy Theories Attempt an Explanation

Illustration: Shruti Yatam

I

t’s that time of the year again. People standing in long queues. ATMs running out of cash. Prime Minister Modi on a foreign trip. Finance Minister Arun Jaitley giving unconvincing assurances. And the Reserve Bank of India… still counting notes.

When ₹500 and ₹1000 notes disappeared overnight like Nirav Modi from India, we all knew demonetisation was the devil. Some of us who were in the habit of hoarding money deposited cash in the bank and new currency took time to print. It was all to tackle corruption and bring back black money. Or was it to curb terrorism? Or promote digital India? Or to help the banking system?

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