-The Telegraph New Delhi: A nationwide network of farmers today dubbed the demonetisation exercise "the most hurtful scheme since independence" and claimed that Prime Minister Narendra Modi's pledges for the agriculture sector announced on December 31 were "a rehash of what already exists". The network of farmers' associations and representatives from across the country said in a letter sent to the Prime Minister that the demonetisation move had shown a "dismaying disregard"...
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What the RBI Should Do to Minimise the Impact of Demonetisation -Surajit Das
-TheWire.in People have lost their jobs, small businesses are closing down and the agricultural sector has been hit hard as a result of demonetisation. The RBI must increase the supply of cash to curb further fallout. Money is not cash. In fact, cash in circulation was just 14% of all money in 2015-16 according to the Reserve Bank of India (RBI). Measures of money also count close substitutes of cash including the...
More »Demonetisation U-turn? RBI now turns away people wanting to exchange Rs 500, Rs 1,000 notes
-PTI New Delhi: Hundreds thronging the RBI office to exchange old Rs 500 and 1,000 notes returned empty handed as the central bank is allowing the facility only for NRIs or those who were abroad during the 50-day demonetisation period.' Prime Minister Narendra Modi in his address to the nation on 8 November, 2016 had said, "There may be some who for some reason, are not able to deposit their old 500...
More »The silent suffering of Bharat -Milind Murugkar
-Livemint.com The impact of demonetisation on the organized sector creates a visible effect. The suffering of Bharat is diffused, invisible, but hugely more painful ‘Why doesn’t the informal sector, supposedly badly hit by demonetisation, protest or scream in pain?’. Defenders of demonetisation often pose this question. The question assumes that the suffering poor people face because of government policies always finds political expression. If you want an answer to the question, please...
More »97% banned notes said to be deposited in banks in blow to Modi's black money fight -Siddhartha Singh
-Livemint.com Banks have received Rs14.97 trillion ($220 billion) as of 30 December, the deadline for handing in the banned notes, said a person familiar with the matter New Delhi: Indians have deposited nearly all the currency bills outlawed at the end of the deadline last year, according to people with knowledge of the matter, dealing a blow to Prime Minister Narendra Modi’s drive to unearth unaccounted wealth and fight corruption. Banks have received...
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