Rajan warned Modi against demonetisation in new book


 NEW DELHI: The man who predicted the 2008 global financial crisis also presaged the damage Prime Minister Narendra Modi’s unprecedented cash ban would cause to India’s economy.

Raghuram Rajan was governor of the Reserve Bank of India (RBI) in February 2016, when he was asked by the government for his views on demonetisation, according to Rajan’s book “I do what I do”, the first time he’s spoken about his experience in the country.

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