-TheWire.in While Nepal is still awaiting a way to return the banned notes, Bhutan has curbed the use of the new high-denomination notes. New Delhi: When Prime Minister Narendra Modi announced that India would demonetise over 80% of its bank notes on November 8, 2016, two neighbouring nations were also taken by surprise. Nepal and Bhutan both have significant reserves and usage of Indian currency, with the latter giving it the status of...
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Paradise Papers: Seven Steps Modi Must Take Against Black Money -Prashant Bhushan and Yogendra Yadav
-TheWire.in Given his government’s record of inaction, however, the latest disclosures are also likely to sink without a trace. The ‘Paradise Papers’ expose carried out by the Indian Express in collaboration with a German newspaper and the International Consortium of Journalists (ICIJ) once again reveals the extent of the black money menace and the lack of political will to take it on. By now it is clear that the Narendra Modi government...
More »A damaging and mindless act -Prabhat Patnaik
-The Hindu Business Line It was a gratuitous and direct assault on the informal sector by the state The retrospective defence being provided by the Government for its act of suddenly demonetising 86 per cent of the country’s currency is as mindless as the act itself. The main argument for demonetisation that was advanced a year ago was that ‘black money’-holders would not dare to bring their demonetised currency to the Banks;...
More »80% of people against demonetisation: Survey -Ashlin Mathew
-National Herald Contrary to what PM Narendra Modi and his colleagues claim that the nation supported demonetisation, a new study has found that only 20% were in favour of the move or confused. The rest against it That demonetisation has been a disaster has been acknowledged by all, except by those walk through the corridors of power. But, now there is an additional set of statistics to back the sensible thought. According...
More »Cash still king as digital payments inch up slowly -Rachel Chitra
-The Times of India CHENNAI: If demonetisation was a push for a cashless economy, it has been working very slowly. Reserve Bank of India data shows the usage of wallets, non-UPI banking apps and Aadhaar-enabled payments has been slow to catch on, while that of debit cards has fallen. The UPI payments have been growing, and a significant chunk of them are mobile-based. Overall, electronic payments stood at Rs 200 trillion in...
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