-TheWire.in In the caste and class-unequal region, where a cashless economy is a distant dream, there is some doubtful support for demonetisation, but mostly concrete hostility. Jhansi: Almost a month after Prime Minister Narendra Modi announced the scrapping of Rs 500 and Rs 1000 notes, the socio-economic fabric of Bundelkhand – one of the poorest regions in central India comprising parts of Uttar Pradesh and Madhya Pradesh – is slowly crumbling. The...
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Demonetisation: A month after move, why are we still strapped for cash? -Shameen Alauddin
-Business Standard RBI says it has released only Rs 4 lakh crore but banks have received Rs 11.55 lakh crore in deposits from the public; 65% currency remains unreplaced New Delhi: Even as India grapples with an acute shortage of currency notes, Reserve Bank of India (RBI) Governor Urjit Patel on Wednesday announced that Rs 4 lakh crore (19.1 billion notes) had been injected into the system. The crunch might go on...
More »Harried bankers want to shut shop till there's enough cash -Saloni Shukla
-The Economic Times MUMBAI: Bank employees want branches to be closed until the Reserve Bank of India (RBI) supplies sufficient quantities of currency notes as irate customers increasingly harass staffers and indulge in arson and physical assault amid a Cash shortage following demonetisation of high denomination notes last month. "RBI should take a view to stop banking operations for 15 days till adequate money is available. Let RBI close the banks till...
More »Demonetisation and the economy: Signs of distress everywhere -Ankur Bhardwaj
-Business Standard Indian economy is showing signs of distress all around and economists are not off the mark in their assessment When Prime Minister Narendra Modi addressed the nation on November 8 and announced his government’s big move to tackle black money, currency counterfeiting and terror funding by banning old currency notes of Rs 500 & Rs 1,000, there were murmurs of protest. Since then, economists like Amartya Sen, Kaushik Basu and many...
More »Demonetisation derails cashless plan at APMC markets -Abhiram Ghadyalpatil
-Livemint.com Farmers are getting paid for their produce by traders either by cheque, but many farmers are not able to encash the cheques due to currency shortages at banks Mumbai: Nearly three weeks after the partial demonetisation of Rs500 and Rs1,000 notes, cashless contracts are running the trade at Maharashtra’s major agricultural markets, but problems with bank liquidity persist. Farmers are getting paid for their produce by traders either by cheque or via...
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