-The Hindu Shaktikanta Das says Rs. 12.44 lakh crore in invalid notes may not have come back to banks The Finance Ministry on Thursday said the Rs. 12.44 lakh crore figure reported by the Reserve Bank of India as the amount having been deposited in banks since the November 8 demonetisation announcement could be inflated due to double-counting. Department of Economic Affairs Secretary Shaktikanta Das said the RBI had infused three times the...
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Rs 1 lakh crore: fall in bank credit growth in fortnight after Nov 8 -George Mathew
-The Indian Express Banks are now caught in a dilemma even as they stare at a decline in loan growth — considering the surge in deposits since November 9. Mumbai: Struggling to cope with bad loans and the aftermath of the demonetisation decision, Indian banks have taken a hit on lending. Loan growth plunged by Rs 1 lakh crore in the fortnight that ended November 25, according to estimates. According to...
More »Sangh's arm adds job jolt -JP Yadav
-The Telegraph New Delhi: The chief of the Rashtriya Swayamsevak Sangh's labour arm today said that far more jobs had been lost than were created since the Narendra Modi government assumed office, adding that the demonetisation had cost many jobs too. "Under the new government, 1 lakh and 35 thousand job opportunities have been created so far but 20 lakh people have lost their jobs," Baij Nath Rai, president of the Bharatiya...
More »Demonetisation: A month after move, why are we still strapped for cash? -Shameen Alauddin
-Business Standard RBI says it has released only Rs 4 lakh crore but banks have received Rs 11.55 lakh crore in deposits from the public; 65% currency remains unreplaced New Delhi: Even as India grapples with an acute shortage of currency notes, Reserve Bank of India (RBI) Governor Urjit Patel on Wednesday announced that Rs 4 lakh crore (19.1 billion notes) had been injected into the system. The crunch might go on...
More »Harried bankers want to shut shop till there's enough cash -Saloni Shukla
-The Economic Times MUMBAI: Bank employees want branches to be closed until the Reserve Bank of India (RBI) supplies sufficient quantities of currency notes as irate customers increasingly harass staffers and indulge in arson and physical assault amid a cash shortage following demonetisation of high denomination notes last month. "RBI should take a view to stop banking operations for 15 days till adequate money is available. Let RBI close the banks till...
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