-PTI/ The Hindu Justice Nagarathna dissents from majority judgment, says DeMo of high-value currency notes was ‘vitiated and unlawful’ New Delhi: The Supreme Court on Monday upheld the legality of the Centre’s 2016 decision to ban Rs 1,000 and Rs 500 currency notes, saying the decision-making process was neither flawed nor hasty and that it was “not relevant” whether the stated objectives were achieved or not. In a big win for the Narendra...
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House panel flags delay in Cash aid to kin of those who died cleaning sewers -Fareeha Iftikhar
-Hindustan Times In accordance with a Supreme Court judgment of 2014, compensation of ₹10 lakh each is paid to the families of those who have died while cleaning sewers or septic tanks from the year 1993 onwards. New Delhi: A parliamentary standing committee has expressed disappointment over the delay in release of compensation to the families of 104 people who died while cleaning sewer or septic tanks manually, saying that there appears...
More »E-rupee transactions will not be tracked
-The Telegraph Many experts, including former RBI governor D Subbarao, have flagged concerns over the privacy aspect of CBDC Mumbai: The RBI on Wednesday said the central bank digital currency (CBDC) will remain anonymous and regulations that are applicable to paper currency will prevail on the e-rupee. Earlier this month, the RBI had begun a pilot for the retail digital rupee after it launched another project for wholesale digital rupee among financial institutions. Many...
More »Instead of Withdrawing Food Security, a Minimum Income Guarantee Is Needed -Santosh Mehrotra, Anjana Rajagopalan and Rakesh Ranjan
-TheWire.in A Minimum Income Guarantee would not just cushion exogenous shocks, but would arrest the process of vulnerability begetting vulnerability. While the worst of the pandemic is behind us, there has been a decline in general purchasing power amidst inflation. The provisional Consumer Food Price Index (combined for rural and urban) for September 2022 is pegged at 8.6%, a huge increase from 0.68% for September 2021. The latest Periodic Labour Force Survey (PLFS)...
More »Six years since demonetisation, Cash with public at record high of ₹30.88 lakh crore
-PTI/ The Hindu The intent of the move, which was criticised by many experts for poor planning and execution, was to make India a "less Cash" economy. Currency with the public has jumped to a new high of ₹30.88 lakh crore as of October 21, illustrating that Cash usage is still robust even six years after the demonetisation move. At ₹30.88 lakh crore, the currency with the public is 71.84% higher than the...
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