Raghuram Rajan on demonetisation, Indian economy and life after RBI

In an interview with Hindustan Times, Raghuram Rajan talks about why he didn't want demonetisation and life as an ex RBI governor. Latest RBI data shows that all but 1% of the high-value bank notes demonetised have returned to the banking system, meaning black money hoarders found ways to legitimise their cash that now earns interests. Rajan estimates this burden could be as high as Rs 25,000 crore a year.