Q:
How Many Rupees Are in a Lakh?
A:
Quick Answer
Reuters reports that there are 100,000 rupees in a lakh. Rupees are the primary unit of currency in India, a country with 1.27 billion people.
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Full Answer
As of 2014, two-fifths of India's population lack a bank account, and many Indian farmers have committed suicide because they are unable to repay loans. "India counted 146,373 suicides by farmers between 2004 and 2012, according to government estimates. The toll has been on a declining trend in recent years but typically spikes in years when there is drought," reports Reuters. In August 2014, Prime Minister Narendra Modi promised greater access to financial services for Indians.
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