-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...
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99% of junked Rs 500/1000 notes returned to Banks: RBI
-PTI As much as 99 per cent of the junked Rs 500 and Rs 1,000 notes have returned to the banking system, RBI said today, prompting opposition to question the efficacy of the government's unprecedented note ban decision to curb black money and corruption. The Reserve Bank, which has so far shied away from disclosing the actual number of junked currency deposited after November 8 last year, said in its Annual Report...
More »'PM is of India, not BJP': Haryana HC takes Centre to task over Panchkula violence -Shailee Dogra
-Hindustan Times The high court called the PM Narendra Modi-led government’s reaction to the violence “only a knee-jerk” one, dismissing the argument that the havoc occurred in different states ruled by different parties. Chandigarh: The Prime Minister is of the nation and not the BJP, the Punjab and Haryana high court remarked on Saturday as riots engulfed two states after controversial “godman” Gurmeet Ram Rahim Singh was convicted of rape. The court...
More »Centre approves the merger, consolidation of public sector Banks
-Scroll.in Principal Economic Advisor Sanjeev Sanyal said the government wants to reduce the number of PSU lenders to 10 to 15 from the current 21. The Union Cabinet on Wednesday gave its in-principle approval for the merger and consolidation of public sector Banks, reported ET Now. The Cabinet gave the go-ahead to set up a mechanism to carry out such mergers. The move is aimed at improving the efficiency of public...
More »That sinking feeling -MV Rajeev Gowda & Salman Soz
-The Hindu In contrast to its pronouncements, the government’s own data suggest the economy is in a deep hole Prime Minister Narendra Modi, in his Independence Day address, spoke triumphantly about how demonetisation drove ?3 lakh crore of unaccounted money into the banking system. The Reserve Bank of India (RBI) is still counting old notes, and unaccounted money cases are ongoing. Thus, this number is at best a guesstimate, and cannot be...
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