Rogoff: India's Modi Takes 'Very Radical' Cash Move

The transcript discusses India's sudden demonetization policy, announced by the Prime Minister, which aimed to combat corruption and crime by invalidating large currency notes. Ken Rogoff provides his perspective, suggesting a gradual approach to avoid collateral damage. The role of the RBI and the central bank's response are examined, highlighting disagreements on the policy's execution. The impact on currency volatility and economic challenges are discussed, emphasizing the need for better planning and financial inclusion. Critics and supporters of the policy and Rogoff's book, 'The Curse of Cash,' are also mentioned.

What was the Prime Minister's announcement regarding the 500 and 1000 rupee notes?

How does Ken Rogoff's proposed policy for India differ from the Prime Minister's approach?

What are some of the reasons Ken Rogoff mentions for why cash can be harmful?

What challenges does Rogoff identify regarding the implementation of the Prime Minister's policy?

What are the potential long-term benefits of the currency policy change according to Rogoff?

What does Rogoff suggest about the role of the Reserve Bank of India in the currency policy change?

How does Rogoff view the relationship between cash and corruption in India?