500

India's move to scrap 500 and 1,000 rupee notes is poor economics, a leading economist says. Kaushik Basu, the former chief economist for...

India's move to scrap 500 and 1,000 rupee notes is poor economics, a leading economist says. Kaushik Basu, the former chief economist for the World Bank, says the "collateral damage" is likely to outstrip its benefits. The overnight ban on the notes last month was intended to crack down on corruption and so-called "black money" or illegal cash holdings. But it sparked scenes of chaos outside banks and ATMs.

to scrap/supprimer - note/billet (de banque) - to be poor economics/ici, être une mesure contreproductive - leading/de premier plan - to outstrip/dépasser - overnight/du jour au lendemain - ban/interdiction - to crack down on/ici, enrayer - cash holdings/avoirs en liquide - to spark/déclencher - ATM = automated teller machine/DAB, distributeur automatique