You are here

Planeloads of cash to turn India's black money white

Underground laundering networks are spreading all over, with agents using creative means to deliver clean notes

The rise of illicit networks illustrates the challenge Mr Modi faces in trying to stamp out entrenched corruption in a country where cash accounts for 98% of transactions - and raises the prospect that he'll pay a steep price for a move that threw India into chaos.


AS Indians struggle with the chaos caused by last month's sudden banning of their 500 and 1,000 rupee notes, money-laundering networks are spreading across the country, seizing on a new market in helping people turn their cash hoards into legal tender.

While people have...

Market voices on: