-The Economic Times Until a couple of weeks ago, few had heard about Anil Bokil or the socioeconomic thinktank he founded, the Arthakranti Pratishthan. On the street, he would not even have invited a fleeting glance. This changed after the evening of November 8, when Prime Minister Modi announced his plans to “demonetise” Rs 500 and Rs 1,000 notes. Arthakranti Pratishthan has been Credited with sowing the seeds of “demonetisation” in the...
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Rs. 35,000 cr. to ease rural cash crunch -Manojit Saha & Vikas Vasudeva
-The Hindu Centre relaxes curbs, allows farmers to buy seeds with old Rs. 500 notes. Union Finance Minister Arun Jaitley directed commercial bank chiefs on Monday to focus their attention on rural India’s cash crunch over the next 40 days, with a war chest of Rs. 35,000 crore for providing Credit to farmers by December. The Centre also relaxed its demonetisation policy for high-value currency notes further by allowing farmers to buy seeds...
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 »Expect your household budget to shoot up: Going cashless comes at a cost -Tinesh Bhasin & Priya Nair
-Business Standard When you start using digital payment options, your household budget is likely to shoot up The government’s demonetisation drive has caused a cash crunch, forcing people to look at plastic money and other forms of digital payments. But, for a society accustomed to physical notes, the transition to cashless comes at a cost. Many households are likely to see their budgets shoot up as they pay more at merchant establishments...
More »Demonetisation: If rural cooperative banks sink, so will farmers -Ajay Vir Jakhar
-The Economic Times Farmers accustomed to decades of government policy failure are willing to bear the pain caused by the government’s decision to recall Rs 500 & 1000 bills, but engineering a systematic failure of the rural cooperative banking sector would be an unpardonable desecration. Earlier rural bank branches were given a step motherly treatment: Rural cooperative bank branches were not replenished with lower denomination currency, while the newer higher denomination notes...
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