With 65% of ATMs Nonoperational, Goldman Warns India Is “Returning To Barter System”

Saturday, December 10, 2016
By Paul Martin

by Tyler Durden
ZeroHedge.com
Dec 9, 2016

India continues to stagger from bad to worse followinhg Modi’s demonetization. With just 35% of ATMs nationwide operational, Goldman warns the shortage of cash continues to incentivize the use of alternate payments, including extension of informal credit and a return to barter systems. Addtionally, the slowdown in activity is dramatically reflected in lower tax collections and discounts offered by luxury car companies.

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