Indian Finance Minister Arun Jaitley plans to revitalise the country’s state banks with a 2 trillion rupee injection – money he wants to raise by selling those exact same financial institutions special bonds. Photo: EPA
Tom Holland
Opinion

Opinion

Abacus by Tom Holland

Remonetisation, or the Great Indian Hope Trick

Finance Minister Arun Jaitley plans to revitalise the country’s state banks with a 2 trillion rupee injection – money he wants to raise by selling those exact same financial institutions special bonds. Will such sorcery pay off?

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Indian Finance Minister Arun Jaitley plans to revitalise the country’s state banks with a 2 trillion rupee injection – money he wants to raise by selling those exact same financial institutions special bonds. Photo: EPA
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