-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,...
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Usurers cash in as bank loans to farmers dry up -Bhavika Jain
-The Times of India MUMBAI: Demonetisation seems to have helped private moneylenders in Maharashtra. Of the Rs 13,558 crore of loans required for the rabi season, banks could disburse only about Rs 2,400 crore (18%), due to shortage of cash. Besides, there are restrictions on district cooperative banks (DCCBs). Officials said the crisis gave moneylenders an opportunity to get rid of defunct notes as loans were disbursed in old notes and they...
More »Delhi Police spent Rs 300 crore on hiring cars instead of buying. But why? -Varun Bidhuri
-India Today Mail Today has a copy of the RTI documents that show Delhi Police paid Rs295.66 crore to Jay Pee and Co and Rs 37.22 cr in the form of rent to other companies for using buses, mini buses New Delhi: When it comes to renting vehicles, Delhi Police apparently doesn't drive a hard bargain. The department's data show it spent Rs300 crore on hiring 400 cars in six years...
More »Rs 1 lakh crore: fall in bank credit growth in fortnight after Nov 8 -George Mathew
-The Indian Express Banks are now caught in a dilemma even as they stare at a decline in loan growth — considering the surge in deposits since November 9. Mumbai: Struggling to cope with bad loans and the aftermath of the demonetisation decision, Indian banks have taken a hit on lending. Loan growth plunged by Rs 1 lakh crore in the fortnight that ended November 25, according to estimates. According to...
More »Utsa Patnaik, professor emeritus at Jawaharlal Nehru University, interviewed by TK Rajalakshmi
-Frontline.in Interview with Utsa Patnaik, professor emerita of economics, Jawaharlal Nehru University. By T.K. RAJALAKSHMI THE FALLOUT of the decision of the National Democratic Alliance government to demonetise currency of higher denominations has been felt across all sections of people. There are concerns that it will lead to an overall economic slowdown given the acute shortage of currency for industrial and agricultural operations. The impact on agriculture and those dependent on agriculture...
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