-The Hindu Business Line Kirana and tea shops are doing better than businesses that involve discretionary spending The Micro-finance industry (MFI) is cursed and blessed at the same time. When there were indications that the micro-finance sector is overheating, with high growth rates, multiple lending and oppressive loan recovery practices, the withdrawal of specified bank notes (SBN) hit them. There were reports of stress from Uttar Pradesh and it appeared that there...
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For jute industry in Bengal, it's a clicks-and-mortar weave now -Shiv Sahay Singh
-The Hindu Mill workers being trained to carry out cashless transactions Hooghly: Vijay Bahadur Chauhan, a 57-year-old jute mill worker, is listening attentively to what a bank official is saying. The official of a public sector bank is highlighting how a non-Android phone user, without Internet connectivity, can still carry out cashless transactions. Only a handful of workers at Hastings Jute Mill, one of India’s first jute-making factory, which began operations in 1875,...
More »Parliamentary panel hears adverse views on demonetisation -Dilasha Seth & Amit Agnihotri
-Business Standard The demonetisation drive has hit job creation, beside adding to the stress on banks New Delhi: Demonetisation is expected to negatively impact the overall economy and job generation, a number of economists told Parliament's standing committee on finance. Reserve Bank governor Urjit Patel was to come but could not; he will do so on January 18. The panel heard four economists — former chief statistician Pronab Sen; Mahesh Vyas, head of...
More »Things are getting worse: Vegetable vendors counting losses -Manas Mitul
-The Indian Express Say digital wallets have helped but can’t replace cash. - Shakuntala Vani (51) from Kandivli may not possibly have any black money. She sells vegetables for a living. Having managed somehow since the government demonetised currency notes of Rs 500 and Rs 1000 denominations on November 8, says Shakuntala, her family is now on the brink of starvation. – Chote Lal (55) from Thakur village never used digital wallets in...
More »Plight of the migrants: Jobless labourers return home after demonetisation
-Hindustan Times Plight of the migrants: Jobless labourers return home after demonetisation Twenty-three-year-old Avinash Kumar is planning to postpone his sister’s marriage. The money he had saved, working at a sweatshop in New Delhi’s Mongolpuri, is all but gone. Kumar lost his job in about two weeks from the time Prime Minister Narendra Modi announced a ban on Rs 500 and Rs 1,000 notes, in a move that he termed as the biggest-ever...
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