-The Times of India NEW DELHI: Over Rs 4,663 crore of undisclosed income has been detected by the Income Tax department as part of its country-wide operations against black money hoarders post the demonetisation of two high value currencies by the government. "The department has also seized Rs 562 crore, including Rs 110 crore worth new notes, during the raids," news agency ANI said while quoting the I-T sources. According to...
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Usurers cash in as bank loans to farmers dry up -Bhavika Jain
-The Times of India MUMBAI: Demonetisation seems to have helped private moneylenders in Maharashtra. Of the Rs 13,558 crore of loans required for the rabi season, banks could disburse only about Rs 2,400 crore (18%), due to shortage of cash. Besides, there are restrictions on district cooperative banks (DCCBs). Officials said the crisis gave moneylenders an opportunity to get rid of defunct notes as loans were disbursed in old notes and they...
More »Now RBI Cites 'Threat to Life' Exemption to Deny RTI Query on Demonetisation Decision
-PTI More stonewalling from the ‘Reserved’ Bank of India New Delhi: Were the views of the chief economic advisor and the finance minister taken before the sudden announcement of demonetisation of high-value currency notes by Prime Minister Narendra Modi on November 8? The Reserve Bank of India feels this query cannot be answered under the Right to Information Act as it does not come under the definition of information under the transparency...
More »Pronab Sen, Country director of the International Growth Centre, interviewed by Ajaz Ashraf
-Scroll.in India’s first chief statistician, Pronab Sen, is now country director of the International Growth Centre, which seeks to build effective growth facilities through engagement between policymakers and researchers. In this interview to Scroll.in, he speaks on the 50 days of demonetisation, its failings, its severe impact on the poor, the loss of credibility of the Reserve Bank of India, the push to make India a cashless or less-cash economy, and...
More »Why a Parliamentary Act - or ordinance - is needed for demonetisation -Pratik Datta & Rajeswari Sengupta
-Scroll.in Without it demonetisation would be legal, but the RBI would continue to remain under a legal obligation to keep on exchanging the old notes with new ones. On November 8, 2016 the Rs 500 and Rs 1,000 notes were “demonetised”. This move has raised three interesting legal questions. Writ petitions have been filed across the country challenging the legality of demonetisation. Petitions are pending before High Courts of Kerala, Bombay, Delhi,...
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