-The Times of India NEW DELHI: The government and RBI on Monday unveiled fresh restrictions on deposit of old 500 and 1,000 rupee notes, saying anyone depositing above Rs 5,000 will be questioned "on record, in the presence of at least two officials of the bank, as to why this could not be deposited earlier" and only after a "satisfactory explanation" will the money be deposited. This flies in the face...
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No estimation of black money either before or after Nov 8: Arun Jaitley
-PTI There is no official estimation of black money either before or after November 8 – the day government announced scrapping of old Rs 500 and Rs 1,000 notes, Finance Minister Arun Jaitley said on Friday. “There is no official estimation of the amount of black money either before or after the government’s decision of November 8, 2016 declaring that bank notes of denominations of the existing series of the value...
More »BharatNet project: Ground work ready, connectivity not so much -Pranav Mukul
-The Indian Express With optic fibre cables laid in over 65,000 gram panchayats, Centre’s BharatNet project seems on track to achieve its 1,00,000 target by March 2017. However, lack of active connectivity remains a concern. Ahmedabad/ Gandhinagar/ New Delhi: With less than 25 per cent of the 65,475 gram panchayats in the country with optic fibre connectivity having active internet under the BharatNet project, the success of Centre’s push for digital payments...
More »R Nagaraj, an economist and currently a professor at the Indira Gandhi Institute of Development Research in Mumbai, interviewed by Kedar Nagarajan (Caravan Magazine)
-Caravan Magazine On 8 November 2016, Prime Minister Narendra Modi made an announcement declaring that notes of Rs 500 and Rs 1,000 would not be legal Tender as a part of his government’s policy to clamp down on counterfeiting and black money. It has been widely reported that this policy would directly impact the real-estate sector, which typically witnesses a significant amount of transactions that are made through cash to avoid...
More »Why demonetisation notification is illegal and violates the Constitution -Namita Wahi
-The Economic Times One month after demonetisation, the Supreme Court is hearing several public interest petitions challenging the constitutional validity of the “demonetisation notification”, which declared that Rs 500 and Rs 1,000 notes would no longer be legal Tender post midnight on November 8, 2016. The preamble to the notification stated that its objective was to eliminate fake currency used for financing terrorism and to address the problem of “unaccounted money” in...
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