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India should scrap paper money altogether

Four reasons Narendra Modi should speed up a digital rupee

| India
Traders transact at a wholesale vegetable market in Bangalore in December 2016: an e-rupee would do exactly what Modi hoped to achieve in 2016.   © AP

William Pesek is an award-winning Tokyo-based journalist and author of "Japanization: What the World Can Learn from Japan's Lost Decades."

As governments around the globe scramble to keep pace with China's digital currency project, it is time to worry about laggard India.

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