-The Times of India There is a trace of pride in Nisha Chaurasiya's voice as she complains of how she and her co-workers in an anganwadi in Rajnandgaon district of Chhattisgarh struggled to provide food to babies and children, and to expectant women, since demonetisation took effect on November 8. "The self-help groups borrowed money from everybody, stood in bank queues, pleaded with officials and even spent from their own meagre savings...
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Demonetisation: Was RBI given enough time to discuss Note ban, Manmohan Singh asks House panel -Anand Mishra
-The Indian Express Manmohan Singh also suggested that the panel — which is looking into the demonetisation decision — call government officials to depose before it hears RBI Governor Urjit Patel. New Delhi: During a meeting of the Parliamentary Committee on Finance on Thursday, former Prime Minister Manmohan Singh sought to know whether the RBI was given sufficient time to hold deliberations on the government’s demonetisation move. He also suggested that the...
More »Cash goalpost is changed, again -Jayanta Roy Chowdhury
-The Telegraph New Delhi: The RBI has said deposits of demonetised notes with a value of over Rs 5,000 would be allowed just once in a bank account between now and December 30. The announcement not only lengthened the list of abrupt changes enforced since the note recall was announced on November 8 but also fuelled suspicion that the government is trying to dissuade people from depositing demonetised notes. The value of such...
More »Handlooms fall silent in Varanasi, $1 trillion hidden economy stalled
-Bloomberg At the heart of the problem is the way informal businesses like the Varanasi weavers make payments. Varanasi: In Prime Minister Narendra Modi’s political base of Varanasi, Hinduism’s holiest city, weaver Zainul Abedin stares at the uneven mud floor of his home. Behind him, more than a dozen handlooms lie idle. Abedin is part of the collateral damage of Modi’s Nov. 8 decision to ban high-value currency notes, effectively cancelling...
More »No rush to deposit, says FM; Why haven't you done so, says RBI
-The Times of India NEW DELHI: The government and RBI on Monday unveiled fresh restrictions on deposit of old 500 and 1,000 rupee notes, saying anyone depositing above Rs 5,000 will be questioned "on record, in the presence of at least two officials of the bank, as to why this could not be deposited earlier" and only after a "satisfactory explanation" will the money be deposited. This flies in the face...
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