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Dry ATMs dispensing more disappointment than cash

-The Economic Times Prime Minister Narendra Modi wants India to go cashless. And it seems that automated teller machines, or ATMs, have been taking the lead ever since the demonetisation drive began. They are absolutely what PM wants the economy to be — cashless. The result: people's frustration is building up because ATMs are either getting emptied faster than they are refilled, or they are just not working. ET reports from commercial hubs...

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Bengal gold artisans hit -Basant Rawat

-The Telegraph Ahmedabad: Tens of thousands of Bengali artisans employed in Gujarat's jewellery-making units are returning home because demonetisation has reduced sales by more than 90 per cent and left them without work and, therefore, pay. About 60,000 of the one lakh-odd Bengali artisans who work in Ahmedabad's big and small gold factories have already left. The situation is similar in Rajkot, Surat, Vadodara and small towns like Kalol and Bhuj, where...

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Oil mills in Modi backyard idle minus cash -Basant Rawat

-The Telegraph Ahmedabad: Samir Shah never had such spare time in his life as an oil mill owner. This is, after all, the peak season when mills buy oil seeds that are available after the harvesting of kharif crops. But the Saurashtra businessman has been sitting idle the past fortnight. There's no cash to do business. The demonetisation drive has left entrepreneurs like him with a shrunken wallet. And farmers don't usually accept...

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Informal credit systems: Modi has crippled a very Indian way of doing business -Ajaz Ashraf

-Scroll.in The disruptive impact of the demonetisation policy is most evident in Varanasi’s sari-fabric industry. Prime Minister Narendra Modi’s decision to demonetise high-denomination notes has delivered a crippling blow to the uniquely Indian system of financing business. This outcome is ironic for the prime minister whose party, the Bharatiya Janata Party, is forever engaged in extolling India’s contribution to knowledge in ancient times and singing praises of Indian culture. From Delhi to Varanasi...

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Motive behind demonetisation is justifiable but there may be collateral damage

There are reports from all over the country that the recent decision by the government to demonetise currency notes of Rs. 500/- and Rs. 1000/- denomination has affected everyone. However the consequence of this financial measure is lopsided and it will be mainly borne by the farmers, informal sector workers, women and the financially excluded.   Please check the links/ urls below this news alert to know everything about demonetisation. Till a few...

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