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Rupee crackdown threatens corporate profit rebound

Thursday, November 17, 2016 - 05:50

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A customer counting new 2,000-rupee banknotes outside a bank in New Delhi on Tuesday. Mr Modi's decision to withdraw old 500 and 1,000-rupee notes - which accounted for 86% of the money in circulation in India till last week - has virtually stalled the economy.

Mumbai

PRIME Minister Narendra Modi's crackdown on black money may have an unintended consequence: a slump in consumer spending that hits India's corporate earnings recovery.

Investors are trying to gauge the impact on company profits after Mr Modi's surprise recall of high-value

sentifi.com

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