-The Indian Express Reddy was also critical of the way Governor and Deputy Governors is selected. Mumbai: Former Reserve Bank Governor YV Reddy on Monday said: “The role of central bank in our economy is under threat and it is a national problem which has to be addressed as a national problem”. In an interview to CNBC-TV18 channel, the former Governor also said, “my own suspicion is that the institutional identity of...
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Lens on co-operative banks as I-T sleuths find laundering role -Pradeep Thakur & Prabhakar Sinha
-The Times of India NEW DELHI: Investigations by the income tax department have found that a large number of cooperative banks have been manipulating and laundering unaccounted money post demonetisation of high denomination currency notes of Rs 1000 and Rs 500 on November 8. As the department's findings suggest a general absence of requisite regulatory oversight over cooperative banks across the country, the government feels the need for a strong regulatory framework. An...
More »Demonetisation U-turn? RBI now turns away people wanting to exchange Rs 500, Rs 1,000 notes
-PTI New Delhi: Hundreds thronging the RBI office to exchange old Rs 500 and 1,000 notes returned empty handed as the central bank is allowing the facility only for NRIs or those who were abroad during the 50-day demonetisation period.' Prime Minister Narendra Modi in his address to the nation on 8 November, 2016 had said, "There may be some who for some reason, are not able to deposit their old 500...
More »Farmer suicides up 42% between 2014 & 2015 -Priyanka Kakodkar
-The Times of India Mumbai: Farmer suicides in the country rose by 42% between 2014 and 2015, according to newly released data from the National Crime Records Bureau (NCRB). It recorded 5,650 suicides by farmers and cultivators in 2014. The figure rose to 8,007 in the latest data. Several states across the country battled severe drought in both 2014 and 2015. Some, including Maharashtra, experienced two successive years of drought. With 3,030 cases,...
More »Notebandi takes the sauce out of Nashik's tomatoes -Aniket Aga & Chitrangada Choudhury
-RuralIndiaOnline.org Farmers in Maharashtra’s Nashik district – where one in every four tomatoes in India comes from – are destroying standing crops on a scale never seen before, following persistent rock-bottom prices since the November 8 demonetisation On Christmas morning, barely 24 hours after Prime Minister Narendra Modi laid the foundation of the Rs. 3,600 crore Shivaji statue in Mumbai, Yashwant and Hirabai Bendkule were slashing and uprooting the tomato vines on...
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