-Down to Earth More than creating financial crunch for upcoming sowing season, cash crunch is impacting the prices at which farmers are selling their produce While the Union government is promising that cash crunch in the market would end soon, the farmers have already started feeling the pinch badly. The fears of demonetisation have come back for them. They are in soup because not only is this the harvest season, but also...
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Taxmen begin raids on hoarders of cash as Centre, RBI pump in notes -Sidhartha
-The Times of India NEW DELHI: Tax authorities have conducted 30-35 raids in Karnataka and parts of Andhra Pradesh as part of a drive to smoke out cash hoarders, even as the government and RBI moved to pump in funds into some of the states facing a currency crunch. In Bihar, for instance, Rs 800-900 crore has been pumped in through the ATM network with initial assessments suggesting that the shortage may...
More »Cash crunch continues in many states, but banks say situation improving
-Hindustan Times Empty ATMs and complaints reported from Patna to Haridwar. ATMs in Bihar, Madhya Pradesh, Uttarakhand and Gujarat ran empty on Wednesday, but banks said cash flow had improved a day after people in many parts of India struggled to get Money in their hands. Public lenders State Bank of India (SBI), Punjab National Bank, Canara Bank and privately owned Axis Bank said in separate statements that only few of their ATMs...
More »NREGA spending up, beneficiaries fewer -Basant Kumar Mohanty
-The Telegraph New Delhi: The government's spending on the rural job scheme increased 10 per cent in the last fiscal despite a matching decline in the number of beneficiaries because of deletion, challenging claims that weeding out bogus card-holders helped cut down on expenditure and pointing to the lack of jobs in rural areas. After verification, the government struck off the names of 1.62 crore job card-holders under the Mahatma Gandhi National...
More »Insolvency and Bankruptcy Code: BJP claims Rs 4 lakh crore recovery; RBI data tell a different story -Sunny Verma
-The Indian Express As against this claim, the Reserve Bank of India's latest data shows that the public sector banks could recover a total of only Rs 15,786 crore in the fiscal year 2016-17 and 2017-18 till December 31 through all recovery channels, including IBC. The BJP claimed on its Twitter account on Saturday that the “Insolvency and Bankruptcy Code (IBC), 2016 has resulted in recovery of Rs 4 lakh crore out...
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