-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...

-Scroll.in The Islamic financial system works on the principle of not charging interest. What is Islamic banking? Islamic banking is a banking system in accordance with the Shariat. In Islam, money has no intrinsic value – money, therefore, cannot be sold at a profit and is permitted to be used as per shariat only. The Islamic Law or Shariat prohibits paying any fee for Renting of money (called riba) for specific periods of...

-Livemint.com Several Bundelkhand farmers contend that demonetisation is a direct attack on the class divide and has reduced the rising gap between the rich and the poor New Delhi: In April this year, before the monsoon set in on parched Bundelkhand, Ajay Tripathi was witness to countless cattle deaths and fellow villagers migrating in hordes to escape the aftermath of consecutive years of drought. For the young farmer from Uttar Pradesh’s Mahoba...

-The indian Express Govt hopes demonetisation will accelerate India's drive towards a cashless economy. The challenge, however, is to get the unbanked millions into the net. Mumbai: FOR MOST of this year, bankers at State Bank of India, the country’s largest bank, were trying hard to market Point of Sales (POS) machines for debit and credit cards to small businesses and establishments. This would give the bank access to funds at relatively...

-The Telegraph New Delhi: About 57.57 per cent of India's urban population of 300 million has no source of income, socio-economic data released by the government last week suggests, prompting at least one analyst to wonder if this was the reason people were willing to queue up for the whole day to exchange cash. Thirty-seven per cent are engaged in work ranging from begging to government jobs, earning some income. About 5.90...