-The Hindu With the cash crunch situation easing, Reserve Bank of India may do away with the weekly withdrawal limits from banks as well as ATMs by the end of next month, bankers said. The RBI had recently raised the ATM withdrawal limit to Rs. 10,000 a day but maintained the weekly cap at Rs. 24,000 for savings account and Rs. 1 lakh for current account holders. “I think the restrictions on withdrawal...
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Ten Things For Which Aadhaar Was Made Mandatory Even After an October 2015 Supreme Court Order to the Contrary -Arshu John
-Caravan Magazine Since the Aadhaar programme, which aims to provide Indian citizens with unique identification numbers, was launched in 2009, several petitions have been filed before the Supreme Court that oppose its application by the government. These petitions have challenged the Aadhaar programme on various grounds: the government’s right to ask the citizens to provide biometric data for Aadhaar verification without adequate safeguards against its potential misuse; the legality of the...
More »'Have money, can't lend!' -TCA Sharad Raghavan
-The Hindu The ongoing repercussions of the government’s decision to demonetise high-value currency notes are being felt in particular by cash-intensive sectors such as the microfinance industry, according to microfinance company Satin Creditcare. “It’s been a pretty tough time (post demonetisation),” H.P. Singh, chairman and managing director of Satin Creditcare, said in an interview. “The cash supply position has been very bad in the northern states of Uttar Pradesh, Punjab… in both...
More »Govt wants details of cash deposited before note ban -Aanchal Magazine
-The Indian Express Finance Ministry says bank account holders must submit PAN by Feb 28 New Delhi: IN A new set of rules notified on Saturday, the Ministry of Finance has asked banks and post offices to furnish details of cash deposits made during April 1-November 9 last year for amounts adding up to Rs 2.5 lakh or more per person, in all accounts other than current accounts. For current accounts, banks and...
More »Explain demonetisation, your role, flip-flops, secrecy: Parliament panel to RBI Governor Urjit Patel -Anand Mishra
-The Indian Express Urjit Patel to appear before PAC on January 28, list of 10 questions sent New Delhi: THE PUBLIC Accounts Committee (PAC) headed by senior Congress leader K V Thomas, which has asked Reserve Bank of India (RBI) Governor Urjit Patel to appear before it on January 28, has asked him 10 probing questions on the demonetisation issue — from the decision-making process to the level of RBI’s involvement, impact...
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