-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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Why demonetisation is a disaster - detailed analysis of RBI data -James Wilson
-TheNewsMinute.com How much black Money will get back into the system? As of November 8, high-denomination notes of Rs. 500 and Rs. 1000 were 86.4% of the total currency in circulation, and ceased to be legal tender due to the demonetisation. RBI denotes these demonetised notes as “Specified Bank Notes” (SBN). As per RBI Annual Report 2015-2016, as of March 31, 2016, the value of the total SBN is Rs. 14.18 lakh...
More »'Ruined': Farmers hit as vegetable prices come crashing down after demonetisation -Chetan Chauhan
-Hindustan Times The government’s decision to scrap high-value currency has sent wholesale vegetable prices crashing to rock-bottom levels, bringing misery to millions of farmers hoping for good returns for their produce after two successive drought years. Onions sold for just Re 1 per kilogram in wholesale markets at Madhya Pradesh’s Neemuch and Mandsaur this week while tomatoes cost less than Rs 2 per kg in Andhra Pradesh and Chandigarh. A kilogram of cauliflower...
More »A mining fund in Goa could soon give all its residents an equal, regular income -Rahul Basu
-Scroll.in Inspired by a similar project in Alaska, the state may be the first in India to implement the concept of basic income. Tourist brochures frequently describe Goa as some kind of utopia and the Economic Survey – expected at the end of January, a day before the next Union Budget – could go some way in bridging the gap between imagination and reality. The document will discuss the feasibility of implementing...
More »RBI Rejects RTI Request for Minutes of Demonetisation Decision -Gaurav Vivek Bhatnagar
-TheWire.in The official line seems to be, ‘Show me your Money but I won’t show you my records’. New Delhi: While the Reserve Bank of India has been forthcoming in placing on its website the minutes of meetings of all committees that provide it with advice, an RTI activist has accused it of deliberately withholding information on the recent demonetisation exercise. Seen against the backdrop of a top finance ministry official –...
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