-Livemint.com The increase in bank balance in Jan Dhan accounts is not extraordinary as they are being used as much as regular bank accounts, following demonetisation Pradhan Mantri Jan Dhan Yojana (PMJDY) accounts are in focus again thanks to the new notification by the Reserve Bank of India (RBI) imposing withdrawal limits on such bank accounts. The ostensible reason for this is concern that such accounts might be being used to convert...
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With Rs 9.9 lakh crore back, Centre's estimates may go for a toss
-The Times of India NEW DELHI: With over three weeks to go for the deadline to deposit invalidated 500 and 1,000 rupee notes, deposits in the scrapped currency continue to swell, straining the Centre's estimate of how much of the illegal Tender might not come back into the system. Government data shows deposits in two high denomination notes by Saturday evening had totalled Rs 9.85 lakh crore. The imposing figure, shared by...
More »Demonetisation: BJP Talk of "Cash Transfers" To Common Folk Is Sheer Deception -Prabhat Patnaik
-TheCitizen.in NEW DELHI: A bizarre argument is doing the rounds these days. It states that the cash which gets disabled in the “black economy” because of the government’s demonetization measure, would enable the government to undertake an equivalent amount of expenditure with impunity; it can therefore spend more on infrastructure and other essential areas, or simply provide cash transfers to the people. BJP spokespersons who have been putting forward this argument, are...
More »Imposed only reasonable restrictions, govt. tells SC -Krishnadas Rajagopal
-The Hindu Affidavit in SC denies any lack of preparedness in implementing the demonetisation policy Curb on money transactions, including withdrawals and wedding expenses, are “only reasonable restrictions” imposed on the rights of the public for a limited time, the government said in its latest affidavit. “Cancellation of legal Tender of Rs. 500 and Rs. 1,000 notes is only a reasonable restriction and regulatory in nature. Merely because there is a restriction on...
More »Modi govt says demonetisation strikes black money; RBI data says it's a damp squib -Sandipan Sharma
-Firstpost.com There is a famous couplet by Iqbal that, if loosely translated, goes like this: There must be something about us that ensures we are never destroyed or decimated even when the world has been our enemy for ages. Now, apply that to the current war on illegal cash by the Narendra Modi government: It seems there is really something about Indian cash that ensures its survival. Note the figures. On 8 November,...
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