-The Telegraph BJP invokes Schumpeter, economists bewildered Calcutta: Economics lore has it that Joseph Schumpeter had set three goals in life: to be the world's greatest economist, Austria's greatest horseman and Vienna's greatest lover. The Austrian-American economist apparently accomplished two of the three missions but never said which two, other than offering a clue by hinting there were too many fine horsemen in Austria. A fourth goal - unrecorded by the late economist...
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Cause for caution: On India's GDP growth -Puja Mehra
-The Hindu India’s GDP growth continues to be powered by consumption, not investments A question being raised about the GDP estimates for the first quarter of this year (April-June) is: How should 8.2% GDP growth be interpreted in, or reconciled with, the overall context of some of the pronounced trends in the economy? These include the depreciating rupee, rising bank bad loans, or non-performing assets (NPAs), a trade deficit that has shot...
More »Returning torn Rs 200, Rs 2,000 notes may get only half their value! Here's what new RBI rules say
-BusinessToday.in The earlier rules for exchanging damaged currency notes did not apply to Rs 200 and Rs 2,000, and the notes released under the Mahatma Gandhi series due to their smaller sizes. While exchanging a damaged Rs 2,000 or Rs 200 note, you may get nothing or only half their value in refund depending on how badly the note is mutilated or soiled. The Reserve Bank of India has amended its guidelines...
More »Note ban failed to curb the menace of counterfeit currency, indicates RBI's Annual Report
Although containing fake notes in circulation was one of the objectives behind demonetisation when it was undertaken in 2016, recent data from the Reserve Bank of India (RBI) reveals that fake counterparts of some denominations grew during 2017-18 vis-à-vis the previous year. The recently released Annual Report for 2017-18 of the RBI shows that the total number of pieces of counterfeit notes of Rs. 2000/- denomination, which was detected in the...
More »RBI: Loan defaults by small businesses double in a year -George Mathew
-The Indian Express RBI said that the bulk of loan defaults, which rose from March 2017, is accounted by public sector banks which had a share of 65.32 per cent in outstanding loans to small units, down from 66.61 per cent in the previous year. Mumbai: MICRO AND small businesses continue to struggle in the wake of demonetisation and implementation of the Goods and Services Tax (GST), with the latest RBI figures...
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