-The Hindu Business Line After Allahabad HC rebuff, power firms look for govt lifeline Mumbai: About 70 companies with a combined debt of approximately ?3.6-lakh crore face insolvency proceedings, with the deadline imposed by the Reserve Bank of India ending on Monday. These companies did not get any legal relief as the Allahabad High Court declined to stay the RBI’s February circular instructing banks to take all large accounts above ?2,000 crore...
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Rs 1 billion needed to recalibrate 240,000 ATMs for new Rs 100 notes -Nikhat Hetavkar & Arup Roychoudhury
-Business Standard The difference in dimensions of the old and new Rs 100 notes could pose a serious problem Mumbai/ Delhi: New Rs 100 notes will require a recalibration of 240,000 automated teller machines (ATMs) across the country, and the process will cost the industry about Rs 1 billion and take more than a year, said ATM operators. The Reserve Bank of India (RBI) announced on Thursday it would soon release lavender-coloured Rs...
More »Cost of Modi's demonetisation: IAF raised bills of Rs 29.41 crore to ferry currency notes, reveals RTI
-PTI New Delhi: Over Rs 29.41 crore was spent on using the Indian Air Force’s ultra-modern transport aircraft — the C-17 and the C-130J Super Hercules — to ferry the newly-issued Rs 2,000 and Rs 500 currency notes post-demonetisation, according to an RTI reply. The move to scrap the old Rs 500 and Rs 1,000 notes was announced by Prime Minister Narendra Modi on November 8, 2016, and saw 86 per cent...
More »India needs both price and income support for farmers -Soumya Kanti Ghosh and Debashis Padhi
-Livemint.com The concerns about the downsides of these schemes are overblown, and they could go some way in alleviating rural woes Since the Union Budget 2018-19, there has been a great deal of discussion in the public domain regarding the health of the rural sector. We believe that the rural sector needs some policy intervention, be it price support or income support. As a case in point, the agri gross domestic product...
More »India's forex reserves are falling $2 billion per week as RBI fights to save sliding rupee -Mahua Venkatesh
-ThePrint.in The dip in forex reserves has been due to the intervention of the central bank to arrest the slide in the rupee. New Delhi: India’s foreign exchange reserves have fallen by about $2 billion per week for seven weeks now but top government officials said they were monitoring the trend and there is no cause for alarm. Economic affairs secretary Subhash Chandra Garg said funds would be raised through foreign currency non-repatriable...
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