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Modi's cash ban hits US$1 trillion hidden economy

Many of the hardest-hit are workers in India's vast and intricate informal economy

Single households run about 96 per cent of the nation's unincorporated non-farm enterprises and only one per cent got loans from the government, latest data shows.


IN Prime Minister Narendra Modi's political base of Varanasi, Hinduism's holiest city, weaver Zainul Abedin stares at the uneven mud floor of his home. Behind him, more than a dozen handlooms lie idle.

Mr Abedin is part of the collateral damage of Mr Modi's Nov 8 decision to...