Deprecated (16384): The ArrayAccess methods will be removed in 4.0.0.Use getParam(), getData() and getQuery() instead. - /home/brlfuser/public_html/src/Controller/ArtileDetailController.php, line: 150
 You can disable deprecation warnings by setting `Error.errorLevel` to `E_ALL & ~E_USER_DEPRECATED` in your config/app.php. [CORE/src/Core/functions.php, line 311]
Code Context


        trigger_error($message, E_USER_DEPRECATED);

    }
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 You can disable deprecation warnings by setting `Error.errorLevel` to `E_ALL & ~E_USER_DEPRECATED` in your config/app.php.'
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deprecationWarning - CORE/src/Core/functions.php, line 311
Cake\Http\ServerRequest::offsetGet() - CORE/src/Http/ServerRequest.php, line 2421
App\Controller\ArtileDetailController::index() - APP/Controller/ArtileDetailController.php, line 150
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Cake\Http\ActionDispatcher::_invoke() - CORE/src/Http/ActionDispatcher.php, line 120
Cake\Http\ActionDispatcher::dispatch() - CORE/src/Http/ActionDispatcher.php, line 94
Cake\Http\BaseApplication::__invoke() - CORE/src/Http/BaseApplication.php, line 235
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Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
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Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Error\Middleware\ErrorHandlerMiddleware::__invoke() - CORE/src/Error/Middleware/ErrorHandlerMiddleware.php, line 96
Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Http\Runner::run() - CORE/src/Http/Runner.php, line 51
Cake\Http\Server::run() - CORE/src/Http/Server.php, line 98

Deprecated (16384): The ArrayAccess methods will be removed in 4.0.0.Use getParam(), getData() and getQuery() instead. - /home/brlfuser/public_html/src/Controller/ArtileDetailController.php, line: 151
 You can disable deprecation warnings by setting `Error.errorLevel` to `E_ALL & ~E_USER_DEPRECATED` in your config/app.php. [CORE/src/Core/functions.php, line 311]
Code Context


        trigger_error($message, E_USER_DEPRECATED);

    }
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 You can disable deprecation warnings by setting `Error.errorLevel` to `E_ALL & ~E_USER_DEPRECATED` in your config/app.php.'
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deprecationWarning - CORE/src/Core/functions.php, line 311
Cake\Http\ServerRequest::offsetGet() - CORE/src/Http/ServerRequest.php, line 2421
App\Controller\ArtileDetailController::index() - APP/Controller/ArtileDetailController.php, line 151
Cake\Controller\Controller::invokeAction() - CORE/src/Controller/Controller.php, line 610
Cake\Http\ActionDispatcher::_invoke() - CORE/src/Http/ActionDispatcher.php, line 120
Cake\Http\ActionDispatcher::dispatch() - CORE/src/Http/ActionDispatcher.php, line 94
Cake\Http\BaseApplication::__invoke() - CORE/src/Http/BaseApplication.php, line 235
Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Routing\Middleware\RoutingMiddleware::__invoke() - CORE/src/Routing/Middleware/RoutingMiddleware.php, line 162
Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Routing\Middleware\AssetMiddleware::__invoke() - CORE/src/Routing/Middleware/AssetMiddleware.php, line 97
Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Error\Middleware\ErrorHandlerMiddleware::__invoke() - CORE/src/Error/Middleware/ErrorHandlerMiddleware.php, line 96
Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Http\Runner::run() - CORE/src/Http/Runner.php, line 51
Cake\Http\Server::run() - CORE/src/Http/Server.php, line 98

Warning (512): Unable to emit headers. Headers sent in file=/home/brlfuser/public_html/vendor/cakephp/cakephp/src/Error/Debugger.php line=853 [CORE/src/Http/ResponseEmitter.php, line 48]
Code Context
            if (Configure::read('debug')) {

                trigger_error($message, E_USER_WARNING);

            } else {
$response = object(Cake\Http\Response) {

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    <h1 class="cat-box-title">In one stroke, demonetisation has shaken the trust our monetary system is based on -Devangshu Datta</h1>
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                            <div align="justify">-Scroll.in<br /><br /><em>Even the long-term benefits of the move seem to be outweighed by the heavy costs and disruption it would cause, particularly for the lower income groups.<br /></em><br />The demonetisation of Rs 500 and Rs 1,000 currency notes came as a surprise to almost everyone. The details of re-monetisation are still to become entirely clear. What follows is a set of personal opinions of likely outcomes arising from this move to demonetise. Each of those opinions could be entirely wrong but they are all centred on subjects that are worth thinking about.<br /><br />But, first, some basic statistics.<br /><br />About 85% of all currency in circulation has just been turned into coupons that can only be exchanged in specific places. These notes can be converted into currency again only with identity proofs (which hundreds of millions don&rsquo;t have) and the additional hardship of standing in many queues for many hours.<br /><br />Over half of India&rsquo;s population doesn&rsquo;t have any sort of bank account at the moment and about 300 million don&rsquo;t have basic ID such as Aadhaar either and hence, cannot access the banking system at all. About 130 million Indians have mobile wallets (about 25 million have credit cards) and there are maybe 550-600 million debit cards in circulation. So access to cash is very, very important for average Indians.<br /><br />Liquidity in the economic system will be sucked out for several weeks at the very least, due to the very stringent restrictions on cash withdrawals from ATMs, and bank accounts. Plus there&rsquo;s the sheer logistics of getting that massive volume of new notes into circulation. In addition there will be a cost to printing and distributing the new notes and taking the old currency out of circulation.<br /><br />Please <a href="http://scroll.in/article/821113/in-one-stroke-demonetisation-has-shaken-the-trust-our-monetary-system-is-based-on" title="http://scroll.in/article/821113/in-one-stroke-demonetisation-has-shaken-the-trust-our-monetary-system-is-based-on">click here</a> to read more. <br /></div>                                                           
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    <br><a href="http://scroll.in/article/821113/in-one-stroke-demonetisation-has-shaken-the-trust-our-monetary-system-is-based-on" class="re" target="_blank">Scroll.in, 9 November, 2016, http://scroll.in/article/821113/in-one-stroke-demonetisation-has-shaken-the-trust-our-monetary-system-is-based-on</a><div class="clear"></div>
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    <h1 class="cat-box-title">In one stroke, demonetisation has shaken the trust our monetary system is based on -Devangshu Datta</h1>
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                            <div align="justify">-Scroll.in<br /><br /><em>Even the long-term benefits of the move seem to be outweighed by the heavy costs and disruption it would cause, particularly for the lower income groups.<br /></em><br />The demonetisation of Rs 500 and Rs 1,000 currency notes came as a surprise to almost everyone. The details of re-monetisation are still to become entirely clear. What follows is a set of personal opinions of likely outcomes arising from this move to demonetise. Each of those opinions could be entirely wrong but they are all centred on subjects that are worth thinking about.<br /><br />But, first, some basic statistics.<br /><br />About 85% of all currency in circulation has just been turned into coupons that can only be exchanged in specific places. These notes can be converted into currency again only with identity proofs (which hundreds of millions don&rsquo;t have) and the additional hardship of standing in many queues for many hours.<br /><br />Over half of India&rsquo;s population doesn&rsquo;t have any sort of bank account at the moment and about 300 million don&rsquo;t have basic ID such as Aadhaar either and hence, cannot access the banking system at all. About 130 million Indians have mobile wallets (about 25 million have credit cards) and there are maybe 550-600 million debit cards in circulation. So access to cash is very, very important for average Indians.<br /><br />Liquidity in the economic system will be sucked out for several weeks at the very least, due to the very stringent restrictions on cash withdrawals from ATMs, and bank accounts. Plus there&rsquo;s the sheer logistics of getting that massive volume of new notes into circulation. In addition there will be a cost to printing and distributing the new notes and taking the old currency out of circulation.<br /><br />Please <a href="http://scroll.in/article/821113/in-one-stroke-demonetisation-has-shaken-the-trust-our-monetary-system-is-based-on" title="http://scroll.in/article/821113/in-one-stroke-demonetisation-has-shaken-the-trust-our-monetary-system-is-based-on">click here</a> to read more. <br /></div>                                                           
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    <br><a href="http://scroll.in/article/821113/in-one-stroke-demonetisation-has-shaken-the-trust-our-monetary-system-is-based-on" class="re" target="_blank">Scroll.in, 9 November, 2016, http://scroll.in/article/821113/in-one-stroke-demonetisation-has-shaken-the-trust-our-monetary-system-is-based-on</a><div class="clear"></div>
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    <h1 class="cat-box-title">In one stroke, demonetisation has shaken the trust our monetary system is based on -Devangshu Datta</h1>
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                            <div align="justify">-Scroll.in<br /><br /><em>Even the long-term benefits of the move seem to be outweighed by the heavy costs and disruption it would cause, particularly for the lower income groups.<br /></em><br />The demonetisation of Rs 500 and Rs 1,000 currency notes came as a surprise to almost everyone. The details of re-monetisation are still to become entirely clear. What follows is a set of personal opinions of likely outcomes arising from this move to demonetise. Each of those opinions could be entirely wrong but they are all centred on subjects that are worth thinking about.<br /><br />But, first, some basic statistics.<br /><br />About 85% of all currency in circulation has just been turned into coupons that can only be exchanged in specific places. These notes can be converted into currency again only with identity proofs (which hundreds of millions don&rsquo;t have) and the additional hardship of standing in many queues for many hours.<br /><br />Over half of India&rsquo;s population doesn&rsquo;t have any sort of bank account at the moment and about 300 million don&rsquo;t have basic ID such as Aadhaar either and hence, cannot access the banking system at all. About 130 million Indians have mobile wallets (about 25 million have credit cards) and there are maybe 550-600 million debit cards in circulation. So access to cash is very, very important for average Indians.<br /><br />Liquidity in the economic system will be sucked out for several weeks at the very least, due to the very stringent restrictions on cash withdrawals from ATMs, and bank accounts. Plus there&rsquo;s the sheer logistics of getting that massive volume of new notes into circulation. In addition there will be a cost to printing and distributing the new notes and taking the old currency out of circulation.<br /><br />Please <a href="http://scroll.in/article/821113/in-one-stroke-demonetisation-has-shaken-the-trust-our-monetary-system-is-based-on" title="http://scroll.in/article/821113/in-one-stroke-demonetisation-has-shaken-the-trust-our-monetary-system-is-based-on">click here</a> to read more. <br /></div>                                                           
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    <br><a href="http://scroll.in/article/821113/in-one-stroke-demonetisation-has-shaken-the-trust-our-monetary-system-is-based-on" class="re" target="_blank">Scroll.in, 9 November, 2016, http://scroll.in/article/821113/in-one-stroke-demonetisation-has-shaken-the-trust-our-monetary-system-is-based-on</a><div class="clear"></div>
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In one stroke, demonetisation has shaken the trust our monetary system is based on -Devangshu Datta

Published on Nov 10, 2016   Modified on Nov 10, 2016

-Scroll.in Even the long-term benefits of the move seem to be outweighed by the heavy costs and disruption it would cause, particularly for the lower income groups. The demonetisation of Rs 500 and Rs 1,000 currency notes came as a surprise to almost everyone. The details of re-monetisation are still to become entirely clear. What follows is a set of personal opinions of likely outcomes arising from this move to demonetise. Each of those opinions could be entirely wrong but they are all centred on subjects that are worth thinking about. But, first, some basic statistics. About 85% of all currency in circulation has just been turned into coupons that can only be exchanged in specific places. These notes can be converted into currency again only with identity proofs (which hundreds of millions don’t have) and the additional hardship of standing in many queues for many hours. Over half of India’s population doesn’t have any sort of bank account at the moment and about 300 million don’t have basic ID such as Aadhaar either and hence, cannot access the banking system at all. About 130 million Indians have mobile wallets (about 25 million have credit cards) and there are maybe 550-600 million debit cards in circulation. So access to cash is very, very important for average Indians. Liquidity in the economic system will be sucked out for several weeks at the very least, due to the very stringent restrictions on cash withdrawals from ATMs, and bank accounts. Plus there’s the sheer logistics of getting that massive volume of new notes into circulation. In addition there will be a cost to printing and distributing the new notes and taking the old currency out of circulation. Please click here to read more.

Scroll.in, 9 November, 2016, http://scroll.in/article/821113/in-one-stroke-demonetisation-has-shaken-the-trust-our-monetary-system-is-based-on

Tagged with: Fake Currency black money Rs. 1000 Rs. 500 Currency demonetisation Demonetisation

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• Would the government have brushed aside the Reserve Bank of India if it had objected to demonetisation, Supreme Court asks Centre
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