-The Hindu Anger and frustration dominate discussions on demonetisation at a jan sunwai in Beawar, Rajasthan About five-six hundred people are crowded in and around a small shamiana-covered triangle, like the apex of the letter A. The two arms of the A are busy streets typical of small-town India, a press of pedestrians and two-wheelers punctuated with foraging cows, goats and impatient cars and tempos. Including the shopkeepers and hangers-on across the...
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Has demonetisation hit micro-finance? -MS Sriram
-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...
More »Demonetisation managers incapable, breaking my head over it: Ally Chandrababu Naidu -Sreenivas Janyala
-The Indian Express Naidu had earlier praised Prime Minister Narendra Modi for demonetising Rs 500 and Rs 1,000 notes, even taking credit for the decision. Hyderabad: ANDHRA PRADESH Chief Minister Chandrababu Naidu, who was among the first to welcome the Centre’s demonetisation decision, did a turnaround on Tuesday, saying it was “not what we wished for” and pointed out that there was no solution in sight even after “more than 40 days”. Naidu...
More »Handlooms fall silent in Varanasi, $1 trillion hidden economy stalled
-Bloomberg At the heart of the problem is the way informal businesses like the Varanasi weavers make payments. Varanasi: In Prime Minister Narendra Modi’s political base of Varanasi, Hinduism’s holiest city, weaver Zainul Abedin stares at the uneven mud floor of his home. Behind him, more than a dozen handlooms lie idle. Abedin is part of the collateral damage of Modi’s Nov. 8 decision to ban high-value currency notes, effectively cancelling...
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...
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