-The Telegraph Ahmedabad: Samir Shah never had such spare time in his life as an oil mill owner. This is, after all, the peak season when mills buy oil seeds that are available after the harvesting of kharif crops. But the Saurashtra businessman has been sitting idle the past fortnight. There's no cash to do business. The Demonetisation drive has left entrepreneurs like him with a shrunken wallet. And farmers don't usually accept...
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Less than a third of ATMs operational in Kerala -Vinson Kurian
-The Hindu Business Line THIRUVANANTHAPURAM: As much as 70 per cent of the ATMs in Kerala remain shut, or partially so, at the end of the second week after the Prime Minister announced Demonetisation of high-value notes. The state has close to 9,000 ATMs in all, but shortage of adequate notes in the new series as also those of lower denomination has forced at least a third to down shutters, more so...
More »Jean Dreze, economist and a leading advocate of welfare policies, interviewed by Vasudha Venugopal (The Economic Times)
-The Economic Times "Demonetisation in a booming economy is like shooting at the tyres of a racing car," says development economist Jean Drèze . A leading advocate of welfare policies, Drèze who was a member of the National Advisory Council during the UPA regime, tells ET that the sudden move to demonetize high-value currency notes has created a scary situation for people who live on the margin of subsistence, and that...
More »Small farmers, farm workers bear the brunt as cash becomes scarce
-The Hindu Stories of distress, following a year of drought and now Demonetisation, reverberate through State BENGALURU: First, the water in their fields disappeared, and now, the cash in the market. For Rajaiah of Boovanahalli in Hassan district, the cash crunch following Demonetisation has seen his yet-to-be harvested maize shrouded in uncertainty. “There are no merchants to purchase as they have no cash,” he said. There is desperation, however, as his entire produce...
More »Industries opt for lock down, cut work hours to tide over slump caused by Demonetisation -Aakash Ahuja
-The Times of India RUDRAPUR: Many of the over 700 factories in the industrial belt of Udham Singh Nagar have either slowed down production or opted for a short-term lock down due to problems in transport of goods and a dip in demand. Demonetisation of currency notes of Rs 500 and Rs 1,000 has hit not just small industrial units but also giants like Parle and Britannia, many of which have...
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