-The Times of India blog Whatever its critics may say, there is one unambiguous achievement of the demonetisation drive. The Reserve Bank of India can surely now claim its rightful place in the Guinness or Limca books for the world record in time spent on a single count of currency notes. But what about the other benefits that the finance ministry claimed after RBI announced the results of this mahayajna of...
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Demonetisation: The chronicle of a failure foretold -C Rammanohar Reddy
-Scroll.in Because the exercise was doomed to fail in its primary objective of rooting out black money, the government kept changing its aims. We have travelled a long way from November 8, 2016, when Prime Minister Narendra Modi told us that the black money held in Rs 500 and Rs 1,000 currency notes would become “worthless pieces of paper”. Now, we are told by the finance ministry that the government expected...
More »Demonetisation: In value, digital deals surge, then dip to 5-month -Sunny Verma & Pranav Mukul
-The Indian Express Demonetisation: On Digital transactions, too, RBI data shows that the volume of electronic payments, after peaking in December 2016 at 957.50 million transactions compared with 671.49 million in November, has been on a decline. New Delhi: When it launched the currency withdrawal in November, the NDA government had outlined four key objectives of the demonetisation exercise: detection of black money, elimination of fake currency, squeezing funds available for...
More »RBI says 98.96% of Rs 500, Rs 1000 notes returned after demonetisation -Gopika Gopakumar
-Livemint.com RBI annual report estimates value of Rs 500 and Rs 1000 notes returned was Rs 15.28 trillion against Rs 15.44 trillion in circulation before demonetisation Mumbai: According to Reserve Bank of India’s (RBI) annual report released Wednesday, 98.96% of Rs 500 and Rs 1000 notes (by value) that were invalidated due to the demonetisation exercise had been returned by the end of June. The numbers put to rest one of the big...
More »Govt mulling 2% relief on GST for digital payments -Pankaj Doval
-The Times of India NEW DELHI: You may soon need to shell out less if you pay digitally. The government is looking at giving a 2% incentive over the applicable GST tax rate in case of digital payments where the bill is up to Rs 2,000, in a move aimed at discouraging cash payments. According to sources, the proposal - which may give the benefit in the form of a discount or...
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