Satya Narayan Raju

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    Demonetization puts India’s casinos into a spin

    On Nov. 8th, Indian Prime Minister Narendra Modi made an unscheduled televised appearance during which he dropped a bombshell for the country’s economy. In an effort to stamp out the black market and tax evasion he announced that the 500 rupee and 1,000 rupee notes in circulation would cease to be legal tender. The move triggered an estimated 80 percent drop in gambling revenue across the country.
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