-The Hindu Public sector insurers, oil-marketing firms and others not to take a hit for cashless push The Centre has decided to bear the burden imposed on public sector firms on account of the many discounts and incentives offered to promote digital payments. The plan is to create a new expenditure head in the exchequer’s accounts that will absorb the costs of such measures. Public sector insurers, oil-marketing firms and others will thus not...

-The Indian Express Banks are now caught in a dilemma even as they stare at a decline in loan growth — considering the surge in deposits since November 9. Mumbai: Struggling to cope with bad loans and the aftermath of the demonetisation decision, Indian banks have taken a hit on lending. Loan growth plunged by Rs 1 lakh crore in the fortnight that ended November 25, according to estimates. According to...

-Hindustan Times Plight of the migrants: Jobless labourers return home after demonetisation Twenty-three-year-old Avinash Kumar is planning to postpone his sister’s marriage. The money he had saved, working at a sweatshop in New Delhi’s Mongolpuri, is all but gone. Kumar lost his job in about two weeks from the time Prime Minister Narendra Modi announced a ban on Rs 500 and Rs 1,000 notes, in a move that he termed as the biggest-ever...

-The Indian Express Reserve Bank of India data for October 2016 put the number of debit cards in the country at 94.2 crore. New Delhi: The Centre’s digital push stares at a debit card usage problem: nine of ten cards are used solely for cash withdrawals at ATMs. Reserve Bank of India data for October 2016 put the number of debit cards in the country at 94.2 crore. People used debit cards for...

-Caravan Magazine On 8 November 2016, Prime Minister Narendra Modi made an announcement declaring that notes of Rs 500 and Rs 1,000 would not be legal tender as a part of his government’s policy to clamp down on counterfeiting and black money. It has been widely reported that this policy would directly impact the real-estate sector, which typically witnesses a significant amount of transactions that are made through cash to avoid...