-The Times of India NEW DELHI: Tax authorities have conducted 30-35 raids in Karnataka and parts of Andhra Pradesh as part of a drive to smoke out cash hoarders, even as the government and RBI moved to pump in funds into some of the states facing a currency crunch. In Bihar, for instance, Rs 800-900 crore has been pumped in through the ATM network with initial assessments suggesting that the shortage may...
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Gujarat braces for cash shortage as chests dry up -Rutam Vora
-The Hindu Business Line Ahmedabad: Ahead of the kharif sowing season, Gujarat is facing a cash shortage as banks have started receiving lesser cash than required from the RBI. This has resulted in the rationing of cash disbursements at several banks in parts of Gujarat, mainly in the north. Banking sources confirmed experiencing cash shortage at the currency chest level from where the disbursement of cash takes place to the bank branches. There...
More »Universal basic income can't come at the cost of existing welfare schemes: report -Sayantan Bera and Elizabeth Roche
-Livemint.com Universal basic income (UBI) cannot come at the cost of existing welfare schemes and exclusive reliance on Aadhaar-linked cash transfers can prove to be short-sighted, says Carnegie India report New Delhi: A universal basic income (UBI) for Indian citizens cannot come at the cost of withdrawing existing welfare schemes and an exclusive reliance on Aadhaar-linked welfare payments for cash transfers can prove to be short-sighted, says new research. The central design features...
More »Women hold over 50% of Jan Dhan accounts
-The Times of India NEW DELHI: In what marks a boost for financial inclusion, more than half of PM Jan Dhan Yojna account-holders are women and they are also carrying out transactions rather than merely opening accounts, a sample survey by a financial inclusion consulting firm has indicated. The “State of the Agent Network 2017” report released by Microsave on Wednesday found that there has been a more than 200% increase in...
More »Economic Survey: Note ban added only a few new taxpayers and will barely increase revenues -Rohan Venkataramakrishnan
-Scroll.in Subramanian’s document says 1.8 million taxpayers have been added to the net, but most are just at the Rs2.5 lakh threshold. The Reserve Bank of India’s report in 2017 confirming that Prime Minister Narendra Modi’s demonetisation decision resulted in almost all of the withdrawn notes being returned prompted the government to look for other indicators as proof that the effort had not been a waste. One of those was supposed to...
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