-The Hindu Surakhpur, declared ‘fully digital payment enabled’ by government, rues low literacy, poor connectivity Around 10 days ago, a team of Delhi government officials handed over two PoS (point of sale) machines to kirana (grocery) store owners Surat Singh and Ramesh Kumar, both residents of Surakhpur village in Najafgarh, on the Delhi-Haryana border. The officials taught the two how to use the machines. On Wednesday, when The Hindu visited the village, where...
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What the RBI Should Do to Minimise the Impact of Demonetisation -Surajit Das
-TheWire.in People have lost their jobs, small businesses are closing down and the agricultural sector has been hit hard as a result of demonetisation. The RBI must increase the supply of cash to curb further fallout. Money is not cash. In fact, cash in circulation was just 14% of all money in 2015-16 according to the Reserve Bank of India (RBI). Measures of money also count close substitutes of cash including the...
More »Villagers barter wheat with groceries to beat currency blues in Rajasthan
-PTI BUNDI: Cash-starved farmers in Bundi villages - where ATM and bank branches are hard to find - have resorted to the ancient barter system, exchanging wheat and pulses with other commodities. For farmers in the villages it is literally a return to the old days. Wheat is currently being sold for Rs. 21 to 24 per kg but the locals in villages are forced to purchase commodities weighing equal to wheat thus...
More »Pronab Sen, Country director of the International Growth Centre, interviewed by Ajaz Ashraf
-Scroll.in India’s first chief statistician, Pronab Sen, is now country director of the International Growth Centre, which seeks to build effective growth facilities through engagement between policymakers and researchers. In this interview to Scroll.in, he speaks on the 50 days of demonetisation, its failings, its severe impact on the poor, the loss of credibility of the Reserve Bank of India, the push to make India a cashless or less-cash economy, and...
More »Why it's barter or cash in this 'cashless' Ambala village -Vinod Kumar
-The Indian Express Three villages, with a combined population of about 5,000, have only one bank and no ATM. Ambala: Chamanlal, 28, a barber in Bara village, does not have a debit card and has never seen a point-of-sale (PoS) machine. He charges Rs 20 for a haircut and Rs 10 for a shave — all in cash. He is among the few in the village who has a smartphone, but has...
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