-The Indian Express Six months later, it is clear that it achieved next to nothing, and inflicted a large cost on the poor and the informal sector. It was six months ago, on November 8, that India hit the headlines the world over, with its sudden demonetisation. It was announced in the evening that, at the stroke of the midnight hour, all bank notes of Rs 500 and Rs 1,000 would cease...
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After 6 months, RBI still in dark on junked notes -AM Jigeesh
-The Hindu Business Line Central bank says specified bank notes yet to be reconciled with the physical cash balances New Delhi: Even six months after the demonetisation exercise, the Reserve Bank of India is yet to complete the accounting of the withdrawn Rs. 1,000 and Rs. 500 notes. The RBI has admitted as much in a 15-page response late in April to questions from the Standing Committee on Finance, headed by veteran Congress...
More »6 months of demonetisation: Cash back to being king, shortage at ATMs continues -Suchetana Ray and Mahua Venkatesh
-Hindustan Times Prominent Indian banks have claimed there is no cash crunch, but fact remains that ATMs run dry during long weekends. The crisis began in November when the Union government pulled 500 and 1000 rupee banknotes from circulation as a part of its crackdown on black money. New Delhi: It has been six months since demonetisation, but, “Is there cash in the ATM?” continues to be the most popular question...
More »Six months after demonetisation: Currency in circulation may not match pre-8/11 levels -Sandeep Singh
-The Indian Express Given the slow pace of Currency printing and indications from govt sources, it is unlikely that there will be full replacement of banned notes As Currency in circulation is about 20 per cent lower than the levels at the beginning of November 2016, the sharp decline in the pace of remonetisation over the past few weeks and indications from government officials suggest that the government and the Reserve Bank...
More »UNESCAP: Note ban effect 'transient'; India to grow 7.1% in 2017 -Surabhi Prasad
-The Hindu Business Line Sees enhanced infra spending, higher consumption New Delhi: While noting that demonetisation of high value Currency by the government last year will help bring in more taxpayers into the tax net, the United Nations ESCAP in a new report has said that more measures will be required to fight black money in the future. “The measure did not, by itself, impede future black money flows in new denominations. …...
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