-TheWire.in Demonetisation will only affect those who conduct transactions in cash, are not a part of the formal banking system or have not converted their cash into assets. The government’s demonetisation of Rs 500 and Rs 1000 notes is a contentious issue, but is understandable. Such schemes may have not worked in the past, but a political commitment had to be honoured. The question is not whether the government is right for...
More »SEARCH RESULT
Total Matching Records found : 2036
Netas using co-op banks for backdated FDs, DDs -Partha Sinha
-The Times of India MUMBAI: A few cooperative banks, mostly in rural areas, have found a new way to bypass banking system norms put in place by the government to fight the black money menace. Since PM Narendra Modi launched the demonetisation drive on November 8, these cooperative banks, which are yet to be computerised and still use physical ledger books, are taking cash from customers and opening backdated fixed deposits...
More »'Rollback Demonetisation', Say Eminent Citizens
-TheWire.in The government’s decision to demonetise Rs 500 and Rs 1000 notes, announced by Prime Minister Narendra Modi last week, has led the nation into a situation of chaos. Endless queues have formed before banks and ATMs and the cash economy has been affected adversely. Over 150 eminent citizens have issued a statement today, against demonetisation, questioning its efficacy in eliminating black money. The statement – signed by Prabhat Patnaik, Nayantara Sahgal, Prashant...
More »In fact: When the money stops -Harish Damodaran
-The Indian Express The effects of de-monetisation will be the most acute when it spreads from consumption in households to production in factories and by farmers across the country. So far, the effects of Prime Minister Narendra Modi’s ‘de-monetisation’ of existing Rs 500 and Rs 1,000 denomination currency notes have been largely felt by households, shopkeepers and other microenterprises. These economic agents have, to a limited extent, adjusted to the new situation...
More »In UP, the wind that shakes the paddy -Omar Rashid
-The Hindu ‘Merchants say they have no cash. They offer low prices [for the paddy crop], which is unviable.’ BARABANKI (Uttar Pradesh): The little makeshift kiosks that dot Baruwanarendrapur’s rustic landscape, supplying it rations and other daily items, have not opened since November 9. The next nearest supply point is at Ramnagar Kasba, a good 10 km away, entailing an excruciating wait at the railway crossing on the route. Holi Gautam, a Dalit...
More »
