India Will Scrap 2,000 Rupee Notes, Echoing 2016 Demonetization (www.nytimes.com)

Papadavid, the director of research and advisory at Asia House, a research outfit in London.

In the short term, though, the cash rush has caused a few headaches.

In the long term, removing the 2,000rupee bills will probably help with a gradual, positive move toward formalization and transparency, said Phyllis Papadavid, an economist who studied the 2016 demonetization program.

More workers should be able to formally register and claim benefits, for example, and there will be higher barriers to tax evasion.

I cant think of any aspect of an economy that is worse off by digitalization or formalization, because, basically, you have better usage and management of information, and accountability, said Ms.

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