-The Financial Express In Madhya Pradesh’s tribal districts of Dewas and Khargone, the NGO, Samaj Pragati Sahayog, discourages cash transactions for agricultural inputs. The interest rates are usurious and vary according to commodities. For fertiliser, it is dheda—loan for the stuff has to be repaid 1.5 times over by the end of the harvest season. For pesticides it is sawa, or 1.25 times. Even barter can be extortionate. One quintal of...
More »SEARCH RESULT
Total Matching Records found : 782
Demonetisation effect: Govt, RBI to bring tougher norms for co-op banks -Mahua Venkatesh
-Hindustan Times The government and Reserve Bank of India (RBI) are set to bring out tougher norms for cooperative banks, which have come under scanner for alleged discrepancies and irregularities in the wake of the Demonetisation drive. According to a recent report by the income tax department, most banks have indulged in money laundering after the Narendra Modi government announced ban on high-value bank notes of Rs 500 and Rs 1,000 from...
More »How Demonetisation Has Accelerated Tamil Nadu's Deepening Agrarian Crisis -R Ramasubramanian
-TheWire.in Out of the 144 recorded farmer suicides, over 40 were from outside the Cauvery delta region. Observers and farmers directly attribute Demonetisation as one major factor behind the suicides. Tamil Nadu is facing one of its worst agrarian crises since independence. All of the state’s 32 districts have been officially declared as ‘drought-affected’. In a statement issued on January 10, chief minister O. Panneerselvam announced that the move was necessitated following...
More »Reward the cash-hit, says Sangh's labour arm
-PTI Pune: The Rashtriya Swayamsevak Sangh's labour arm has asked the Narendra Modi government to take note of the "immediate adverse side effects" of Demonetisation while welcoming what it called a "rare" opportunity to help those less privileged. The Bharatiya Mazdoor Sangh also cautioned the government against pressuring people to go digital. "We take serious note of the immediate adverse side effects like defects in implementation, cash shortage, slowdown in market, job losses,...
More »'Have money, can't lend!' -TCA Sharad Raghavan
-The Hindu The ongoing repercussions of the government’s decision to demonetise high-value currency notes are being felt in particular by cash-intensive sectors such as the microfinance industry, according to microfinance company Satin Creditcare. “It’s been a pretty tough time (post Demonetisation),” H.P. Singh, chairman and managing director of Satin Creditcare, said in an interview. “The cash supply position has been very bad in the northern states of Uttar Pradesh, Punjab… in both...
More »
