-The Indian Express Ban on Rs 500, Rs 1000 notes deals with stocks of Black money. But push to a cashless economy is premature. The sudden and dramatic announcement by the prime minister banning Rs 500 and Rs 1,000 notes issued by the Reserve Bank of India has a number of objectives. Among them are tackling counterfeit notes, curbing black money and restricting finance for subversive activities. While progress will be made by...
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Nandan Nilekani, Infosys co-founder and one of the brains behind the Unified Payments Interface, interviewed by Anirban Sen (Livemint)
-Livemint.com Nandan Nilekani, one of the brains behind the Unified Payments Interface, on the near-term challenges of going cashless While the government’s decision to scrap Rs500 and Rs1,000 bank notes has been met with resistance from some quarters and been called too abrupt, Infosys co-founder Nandan Nilekani backed it, saying it was needed to speed up the move to a cashless economy. “There is no question that this is a very bold...
More »Demonetization: Witless and Anti-People -Prabhat Patnaik
-TheCitizen.in NEW DELHI: Narendra Modi went on national television at 8 p.m. on November 8 to announce that from midnight of that very date, i.e. in a mere four hours’ time, 500 and 1000 rupee notes would cease to be legal-tender. The justification advanced for this bizarre move was that it would strike at “Black money”. An additional argument was thrown in, to the effect that fake currency notes used by “terrorists”...
More »Here's What Raghuram Rajan Thinks Of Currency Demonetisation -Rimin Dutt
-Huffington Post It's not what most people are saying The government's currency swap plan to withdraw Rs 500 and Rs 1,000 bank notes from circulation as a way to demonetise is being hailed by many banks and experts as the ultimate weapon against Black money. However, demonetisation, as a strategy, isn't new and has been tried before with limited success. Here's what former Reserve Bank of India governor Raghuram Rajan once said during...
More »Rs 500 and Rs 1000 notes scrapped! Don't panic, here is your full guide on what to do at banks and ATMs
-The Financial Express In one, quick, out-of-the-blue stroke, the Modi government has rendered your existing Rs 500 and Rs 1000 currency notes worthless! In one, quick, out-of-the-blue stroke, the Modi government has rendered your existing Rs 500 and Rs 1000 currency notes worthless! And, that must have surely left you wondering what you will do with your stash of money in denominations of Rs 500 and Rs 1000. While there will be...
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