-PTI NEW DELHI: The Reserve Bank of India (RBI) is not using 'counting machines' for tallying the total number of demonetised notes of Rs 500 and Rs 1,000 in any of its offices, the central bank has said in an RTI reply. Rather, it is using "sophisticated Currency Verification and Processing (CVPS) machines for checking the numerical accuracy and genuiness of the currency notes, including SBNs (Specified Bank Notes that have...
More »SEARCH RESULT
Total Matching Records found : 495
Downturn in India's growth 'very worrying': Kaushik Basu
-PTI Washington: Basu said from 2003 to 2011, India was growing typically over 8 per cent per annum. The year of global crisis, 2008, it dropped briefly to 6.8 per cent, but over 8 per cent growth had become the new norm for India. The downturn in India’s growth is “very worrying”, World Bank’s former chief economist Kaushik Basu said, underscoring that this is the “hefty price” the country had to pay...
More »Demonetisation: The chronicle of a failure foretold -C Rammanohar Reddy
-Scroll.in Because the exercise was doomed to fail in its primary objective of rooting out black money, the government kept changing its aims. We have travelled a long way from November 8, 2016, when Prime Minister Narendra Modi told us that the black money held in Rs 500 and Rs 1,000 currency notes would become “worthless pieces of paper”. Now, we are told by the finance ministry that the government expected...
More »The Truth About Demonetisation -Prabhat Patnaik
-Newsclick.in After months of dilly-dallying the Reserve Bank of India has finally come out with the figure that nearly 99 percent of the currency notes demonetised in November 2016, came back to the Banking System. After months of dilly-dallying the Reserve Bank of India has finally come out with the figure that nearly 99 percent of the currency notes demonetised in November 2016, came back to the Banking System. The total value...
More »RBI says 98.96% of Rs 500, Rs 1000 notes returned after demonetisation -Gopika Gopakumar
-Livemint.com RBI annual report estimates value of Rs 500 and Rs 1000 notes returned was Rs 15.28 trillion against Rs 15.44 trillion in circulation before demonetisation Mumbai: According to Reserve Bank of India’s (RBI) annual report released Wednesday, 98.96% of Rs 500 and Rs 1000 notes (by value) that were invalidated due to the demonetisation exercise had been returned by the end of June. The numbers put to rest one of the big...
More »
