Benchmark
Mystery $9 Billion in Extra Cash Perplexes India
Cash spikes during election time, notes RBI's Rajan
Raghuram Rajan, governor of the Reserve Bank of India.
Photographer: Dhiraj Singh/BloombergThis article is for subscribers only.
A spike in cash in India has left economists bemused and scrambling for an explanation. That includes central bank Governor Raghuram Rajan.
"We're trying to understand it," Rajan said, noting that there was $7.5 billion to $9 billion more than anticipated.