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
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

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')) {

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    <h1 class="cat-box-title">Modi govt says demonetisation strikes black money; RBI data says it&#039;s a damp squib -Sandipan Sharma</h1>
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                            <div align="justify">-Firstpost.com<br /><br />There is a famous couplet by Iqbal that, if loosely translated, goes like this: There must be something about us that ensures we are never destroyed or decimated even when the world has been our enemy for ages. Now, apply that to the current war on illegal cash by the Narendra Modi government: It seems there is really something about Indian cash that ensures its survival.<br /><br />Note the figures.<br /><br />On 8 November, when the prime minister announced notes of higher denomination would be outlawed with immediate effect, currency notes worth nearly Rs 14.5 lakh crore became illegal unless deposited in banks or used for select services.<br /><br />When the government outlawed the notes, it was said that the so-called demonetisation would help achieve three objectives: a) unearth black money stashed as cash, b) curtail funding of terror networks and c) destroy counterfeit currency.<br /><br />It was also assumed a large part of the stashed cash would not be deposited and would be destroyed. Swept away by the euphoria, there were boisterous claims that money was being thrown into the Ganges or dumped in roadside bins.<br /><br />But, on current evidence, it seems most of the money may actually end up getting legally tendered in banks, entering the system as white money. Whither kala dhan?<br /><br />According to the RBI, since the 8 November announcement, currency notes worth Rs 8.11 lakh crore have been deposited in banks and Rs 33,498 crore (3 percent) have been exchanged. So, currency notes worth 60 percent of the total outlawed currency has already entered the system.<br /><br />But, this does not mean 40 percent cash is still with people. Some portion of it was already with banks -- in the form of cash held in ATM machines and in bank chests.<br /><br />Please <a href="http://www.firstpost.com/business/economy/demonetisation-modi-govt-clains-giant-killing-of-black-money-but-rbi-data-shows-a-damp-squib-3130208.html" title="http://www.firstpost.com/business/economy/demonetisation-modi-govt-clains-giant-killing-of-black-money-but-rbi-data-shows-a-damp-squib-3130208.html">click here</a> to read more. <br /></div>                                                           
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    <h1 class="cat-box-title">Modi govt says demonetisation strikes black money; RBI data says it&#039;s a damp squib -Sandipan Sharma</h1>
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                            <div align="justify">-Firstpost.com<br /><br />There is a famous couplet by Iqbal that, if loosely translated, goes like this: There must be something about us that ensures we are never destroyed or decimated even when the world has been our enemy for ages. Now, apply that to the current war on illegal cash by the Narendra Modi government: It seems there is really something about Indian cash that ensures its survival.<br /><br />Note the figures.<br /><br />On 8 November, when the prime minister announced notes of higher denomination would be outlawed with immediate effect, currency notes worth nearly Rs 14.5 lakh crore became illegal unless deposited in banks or used for select services.<br /><br />When the government outlawed the notes, it was said that the so-called demonetisation would help achieve three objectives: a) unearth black money stashed as cash, b) curtail funding of terror networks and c) destroy counterfeit currency.<br /><br />It was also assumed a large part of the stashed cash would not be deposited and would be destroyed. Swept away by the euphoria, there were boisterous claims that money was being thrown into the Ganges or dumped in roadside bins.<br /><br />But, on current evidence, it seems most of the money may actually end up getting legally tendered in banks, entering the system as white money. Whither kala dhan?<br /><br />According to the RBI, since the 8 November announcement, currency notes worth Rs 8.11 lakh crore have been deposited in banks and Rs 33,498 crore (3 percent) have been exchanged. So, currency notes worth 60 percent of the total outlawed currency has already entered the system.<br /><br />But, this does not mean 40 percent cash is still with people. Some portion of it was already with banks -- in the form of cash held in ATM machines and in bank chests.<br /><br />Please <a href="http://www.firstpost.com/business/economy/demonetisation-modi-govt-clains-giant-killing-of-black-money-but-rbi-data-shows-a-damp-squib-3130208.html" title="http://www.firstpost.com/business/economy/demonetisation-modi-govt-clains-giant-killing-of-black-money-but-rbi-data-shows-a-damp-squib-3130208.html">click here</a> to read more. <br /></div>                                                           
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    <h1 class="cat-box-title">Modi govt says demonetisation strikes black money; RBI data says it&#039;s a damp squib -Sandipan Sharma</h1>
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                            <div align="justify">-Firstpost.com<br /><br />There is a famous couplet by Iqbal that, if loosely translated, goes like this: There must be something about us that ensures we are never destroyed or decimated even when the world has been our enemy for ages. Now, apply that to the current war on illegal cash by the Narendra Modi government: It seems there is really something about Indian cash that ensures its survival.<br /><br />Note the figures.<br /><br />On 8 November, when the prime minister announced notes of higher denomination would be outlawed with immediate effect, currency notes worth nearly Rs 14.5 lakh crore became illegal unless deposited in banks or used for select services.<br /><br />When the government outlawed the notes, it was said that the so-called demonetisation would help achieve three objectives: a) unearth black money stashed as cash, b) curtail funding of terror networks and c) destroy counterfeit currency.<br /><br />It was also assumed a large part of the stashed cash would not be deposited and would be destroyed. Swept away by the euphoria, there were boisterous claims that money was being thrown into the Ganges or dumped in roadside bins.<br /><br />But, on current evidence, it seems most of the money may actually end up getting legally tendered in banks, entering the system as white money. Whither kala dhan?<br /><br />According to the RBI, since the 8 November announcement, currency notes worth Rs 8.11 lakh crore have been deposited in banks and Rs 33,498 crore (3 percent) have been exchanged. So, currency notes worth 60 percent of the total outlawed currency has already entered the system.<br /><br />But, this does not mean 40 percent cash is still with people. Some portion of it was already with banks -- in the form of cash held in ATM machines and in bank chests.<br /><br />Please <a href="http://www.firstpost.com/business/economy/demonetisation-modi-govt-clains-giant-killing-of-black-money-but-rbi-data-shows-a-damp-squib-3130208.html" title="http://www.firstpost.com/business/economy/demonetisation-modi-govt-clains-giant-killing-of-black-money-but-rbi-data-shows-a-damp-squib-3130208.html">click here</a> to read more. <br /></div>                                                           
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    <br><a href="http://www.firstpost.com/business/economy/demonetisation-modi-govt-clains-giant-killing-of-black-money-but-rbi-data-shows-a-damp-squib-3130208.html" class="re" target="_blank">Firstpost.com, 29 November, 2016, http://www.firstpost.com/business/economy/demonetisation-modi-govt-clains-giant-killing-of-black-money-but-rbi-data-shows-a-damp-squib-3130208.html</a><div class="clear"></div>
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Modi govt says demonetisation strikes black money; RBI data says it's a damp squib -Sandipan Sharma

Published on Nov 30, 2016   Modified on Nov 30, 2016

-Firstpost.com There is a famous couplet by Iqbal that, if loosely translated, goes like this: There must be something about us that ensures we are never destroyed or decimated even when the world has been our enemy for ages. Now, apply that to the current war on illegal cash by the Narendra Modi government: It seems there is really something about Indian cash that ensures its survival. Note the figures. On 8 November, when the prime minister announced notes of higher denomination would be outlawed with immediate effect, currency notes worth nearly Rs 14.5 lakh crore became illegal unless deposited in banks or used for select services. When the government outlawed the notes, it was said that the so-called demonetisation would help achieve three objectives: a) unearth black money stashed as cash, b) curtail funding of terror networks and c) destroy counterfeit currency. It was also assumed a large part of the stashed cash would not be deposited and would be destroyed. Swept away by the euphoria, there were boisterous claims that money was being thrown into the Ganges or dumped in roadside bins. But, on current evidence, it seems most of the money may actually end up getting legally tendered in banks, entering the system as white money. Whither kala dhan? According to the RBI, since the 8 November announcement, currency notes worth Rs 8.11 lakh crore have been deposited in banks and Rs 33,498 crore (3 percent) have been exchanged. So, currency notes worth 60 percent of the total outlawed currency has already entered the system. But, this does not mean 40 percent cash is still with people. Some portion of it was already with banks -- in the form of cash held in ATM machines and in bank chests. Please click here to read more.

Firstpost.com, 29 November, 2016, http://www.firstpost.com/business/economy/demonetisation-modi-govt-clains-giant-killing-of-black-money-but-rbi-data-shows-a-damp-squib-3130208.html

Tagged with: Currency demonetisation Demonetisation Reserve Bank of India RBI black money

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