-Livemint.com RBI’s testimony to parliamentary panel shows the bank had warned the government of possible inconvenience to the public for some time New Delhi/ Mumbai: India pushed ahead with its decision to demonetise high-value banknotes even as the Reserve Bank of India’s (RBI) own board expressed concern whether the cash could be replaced quickly enough, the central bank has said in written testimony to parliament. The revelation comes amid growing criticism about whether...

-IANS New Delhi: India’s cash-driven agri sector continues to reel under the effects of demonetisation, with farmers growing fruits and vegetables suffering “huge losses”, say farm leaders who want the Union budget to “compensate” them for these losses. Amid reports of farmers dumping or refusing to harvest crops like tomatoes and peas due to a crash in prices as traders did not have the cash to purchase the produce, farmer leader Ajay...

-The Hindu Business Line Chennai tops in seizure of money, Delhi is a distant second New Delhi: The Finance Ministry has said that no counterfeit currency was seized by any of its agencies during searches conducted between November 8 and December 30. In a written response to questions posed by Parliament’s Public Accounts Committee, which is looking into demonetisation and its impact on monetary policy, the Ministry said an amount of Rs....

-The Economic Times Members of the Parliamentary Standing Committee on Finance on Wednesday criticised Reserve Bank of India Governor Urjit Patel for his inability to answer queries related to demonetisation. "Patel was unable to tell us how much money has come back to the banks," said Saugata Roy, TMC MP. "The governor was unable to tell us that how much old currency has come into the banks," added Saugata Roy. Sources also quoted...

-Hindustan Times The government and Reserve Bank of India (RBI) are set to bring out tougher norms for cooperative banks, which have come under scanner for alleged discrepancies and irregularities in the wake of the demonetisation drive. According to a recent report by the income tax department, most banks have indulged in money laundering after the Narendra Modi government announced ban on high-value bank notes of Rs 500 and Rs 1,000 from...