-Business Standard The difference in dimensions of the old and new Rs 100 notes could pose a serious problem Mumbai/ Delhi: New Rs 100 notes will require a recalibration of 240,000 automated teller machines (ATMs) across the country, and the process will cost the industry about Rs 1 billion and take more than a year, said ATM operators. The Reserve Bank of India (RBI) announced on Thursday it would soon release lavender-coloured Rs...
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India's forex reserves are falling $2 billion per week as RBI fights to save sliding rupee -Mahua Venkatesh
-ThePrint.in The dip in forex reserves has been due to the intervention of the central bank to arrest the slide in the rupee. New Delhi: India’s foreign exchange reserves have fallen by about $2 billion per week for seven weeks now but top government officials said they were monitoring the trend and there is no cause for alarm. Economic affairs secretary Subhash Chandra Garg said funds would be raised through foreign currency non-repatriable...
More »On International Workers' Day, Twelve Thousand Workers Demand Increase in NREGA Wage Rate
-Press Statement by NREGA Watch Today, International Workers Day or “Mazdoor Diwas” was celebrated across Jharkhand by collectives of individuals and organisations, culminating a week long series of intensive activities. Thousands of workers gathered in over twenty five blocks across Jharkhand including Kisko (Lohardaga), Chattarpur (Palamu), Manika and Mahuadandh (Latehar), Raidih and Basia (Gumla), Topchanchi (Dhanbad) and Janiamore (Bokaro). Aside from workers, pensioners and other rural residents, these events were...
More »What demonetisation did to tax collections -Aarati Krishnan
-The Hindu It has sharply lifted tax buoyancy and ushered many new return filers into the income tax net The argument about whether demonetisation was good or bad for the economy refuses to die down even a year after the event. Former RBI governor Raghuram Rajan took potshots at it in a recent speech. While one can endlessly debate, with very little data, on whether the ban on high-value currency notes dealt a...
More »Gujarat braces for cash shortage as chests dry up -Rutam Vora
-The Hindu Business Line Ahmedabad: Ahead of the kharif sowing season, Gujarat is facing a cash shortage as banks have started receiving lesser cash than required from the RBI. This has resulted in the rationing of cash disbursements at several banks in parts of Gujarat, mainly in the north. Banking sources confirmed experiencing cash shortage at the currency chest level from where the disbursement of cash takes place to the bank branches. There...
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