-The Economic Times NEW DELHI: Prem covers his face as he sets the line of paddy stubble on fire. While half the field is ready for sowing, it is his turn to get the other half ready. His brother has travelled from their Hansi village to Hissar to stand in queue at the Corporation Bank to withdraw money. The brothers do not have enough to sow their next crop of wheat. ET travelled...
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Cash Crunch In Marathwada Village: In year of good yield, currency ban hits crop prices -Parthasarathi Biswas
-The Indian Express The State Bank of India, Maharashtra Gramin Bank and Nanded District Cooperative Bank have branches in Malegaon. But only the SBI and Gramin Bank branches are dispensing cash. Malegaon (Nanded): The family of Pralhad Ingole, a farmer who owns about 6 acre of land, is struggling in the absence of cash. The lone ATM in their village of Malegaon in Nanded district, operated by the State Bank of...
More »Motive behind Demonetisation is justifiable but there may be collateral damage
There are reports from all over the country that the recent decision by the government to demonetise currency notes of Rs. 500/- and Rs. 1000/- denomination has affected everyone. However the consequence of this financial measure is lopsided and it will be mainly borne by the farmers, informal sector workers, women and the financially excluded. Please check the links/ urls below this news alert to know everything about Demonetisation. Till a few...
More »Demonetisation: Zero balance accounts suddenly awash with cash in Andhra, Telangana
-TheNewsMinute.com The normal deposits ranging from Rs 500 to Rs 5000 have recently increased to Rs 10000. Due to the recent Demonetisation of higher value notes, people in Telangana and Andhra Pradesh are finding new ways to escape the system. Telangana has witnessed a sudden decrease in the number of ‘Zero Balance Accounts’ of Pradhan Mantri Jan Dhan Yojna from 26 lakh to 23.6 lakh. Nearly 2.5 lakh accounts were suddenly awash...
More »In hunt for big sharks, livelihood of the poor becomes small change
-The Hindu With little cash in hand, small traders and shopkeepers are unable to keep their businesses running Surendar’s move from Bihar to Perambalur in the heart of Tamil Nadu in search of a livelihood has turned sour over the past few days. A school dropout, Surendar, who made a living selling pani-poori from a cart in this town, has seen his business plummet since the November 8 Demonetisation announcement. “Everyone brings...
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