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April 27, 2017

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Business > Asia > India
Indian Prime Minister Narendra Modi on Monday urged Indians to give him more time to resolve a cash crisis that followed the withdrawal of high-value notes, insisting the shock move would benefit the poor in the long run.
 
India ATM reset to take 'weeks': minister
India's cash machines will take several weeks to reset with new bills, India's finance minister said Saturday, as public anger mounted over a decision to pull the highest denomination notes from circulation.
 
Delivering one of India's biggest-ever economic upsets, Prime Minister Narendra Modi this week declared the bulk of 500 and 1,000 rupee notes no longer held any value and told anyone holding those bills to take them to banks.
 
India, powered by maize
Indian farmer dries maize on a highway side road in Thoopran Mandal in Medak District, some 60 kilometers from Hyderabad on Thursday, Nov. 10. Agriculture plays a vital role in India's economy. Over 58 percent of the rural households depend on agriculture as their principal means of livelihood.
 
India tries to stem panic after notes withdrawn
India's government tried to quell the panic Wednesday caused by a bombshell decision to withdraw 500 and 1,000 rupee notes from circulation after cash machines ran dry and shares slid.
 
May lays groundwork for post-Brexit India pact
Prime Minister Theresa May said Britain would become the ultimate free trade champion as she laid the groundwork Monday for a potential post-Brexit deal with India, the world's fastest growing major economy.
 
Indians have declared almost US$10 billion in hidden wealth under a government amnesty on tax evasion, as part of Prime Minister Narendra Modi's moves to crack down on huge piles of black money.
 
In India, the world's fastest-growing economy where millions still live in poverty, the remuneration of chief executive officers (CEOs) in top companies is going up. In fact, they are likely to be earning double of what they were paid just two years ago.
 
India's outgoing central bank chief Raghuram Rajan warned countries against a rush to low interest rates as his tenure as governor of the Reserve Bank of India came to an end.
 
Fashion in the field
A Garo tribal woman walks past a paddy field in Tura, in the northeastern Indian state of Meghalaya, Saturday, Sept. 3. More than 70 percent of India's 1.25 billion citizens are engaged in agriculture.
 
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