-The Indian Express It could be “several months” before RBI is able to plug the Rs 14.18 lakh crore hole left behind by the withdrawal of the 2,203 crore pieces of Rs 500 and Rs 1,000 notes, as per the estimates. New Delhi: As the country struggles to cope with a desperate shortage of currency, new notes worth only Rs 1.5 lakh crore have come into circulation so far, says a November...
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Goa will be first state to go Cashless from December 31
-The Times of India PANAJI: Goa is likely to become the first state in India to go Cashless from December 31, as people will be able to buy perishables such as fish, meat, vegetables or anything else at the press of a button on their mobile. There will be no need to carry your purse for purchases and the profession of pickpocketers may become extinct soon, as all transactions will be done...
More »Rural distress -TK Rajalakshmi
-Frontline.in To rural India, which is already reeling under multiple crises, demonetisation has come as yet another blow. WHEN the Prime Minister made the decision to withdraw Rs.500 and Rs.1,000 notes, he did not quite factor in the impact it would have on agriculture. Despite the rhetoric the concept of digital wallets has not yet entered rural India unlike in much of the country’s urban areas, and much of rural and...
More »Cash drought shadow: Distress sale of paddy -Hemant Kumar Rout
-The New Indian Express BHUBANESWAR: Gopal Krushna Panda was happy to hear the announcement on demonetisation of higher currency notes with a hope that the black money will be wiped out. But his happiness was short-lived as the currency crisis gripped the nation. A native of Gopalpur village in Balasore district, Panda requires at least Rs 40,000 to harvest paddy from his 10 acres of agricultural field. While the paddy has already...
More »Dry ATMs dispensing more disappointment than Cash
-The Economic Times Prime Minister Narendra Modi wants India to go Cashless. And it seems that automated teller machines, or ATMs, have been taking the lead ever since the demonetisation drive began. They are absolutely what PM wants the economy to be — Cashless. The result: people's frustration is building up because ATMs are either getting emptied faster than they are refilled, or they are just not working. ET reports from commercial hubs...
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