-Hindustan Times New Delhi: The Union cabinet cleared on Wednesday an ordinance to penalise those found holding a “high amount” of scrapped banknotes. The Specified Bank Notes Cessation of Liabilities Ordinance makes holding a large number of old Rs 1000 and Rs 500 notes a criminal offence that will attract a jail term and a monetary penalty of five times the amount of old cash one is caught with. The ordinance allows exchange...
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The pursuit of unreason -Prabhat Patnaik
-The Telegraph A distinguished Ugandan social scientist of Indian origin,whom I happened to meet earlier this month at an academic conference, told me that Narendra Modi's demonetization reminded him of the fiat in 1972 of the Ugandan dictator, Idi Amin, that all Asians should quit Uganda within a period of three months. His analogy, of course, would be considered inapposite for an obvious reason: expelling people from their places of domicile,...
More »'Only 19% of registered corruption cases end in conviction'
-PTI NEW DELHI: Among every 100 corruption cases registered by investigation agencies only about 19 ended in conviction of accused, analysis of data for last 15 years by a voluntary group shows. The findings of the data crunching done by Commonwealth Human Rights Initiative from 2001-15 shows Punjab has the best conviction rates with 36.58 per cent of registered cases ending in conviction. The national average of conviction in graft cases which reach...
More »Most corrupt are roaming scot-free, indicates official crime data
Although corruption touches every section of the Indian society, there are very few complaints made against bribery or corrupt people. How can one explain this contradiction? Is it the case that the laws relating to corruption are so weak and toothless in our country that people seldom rely on them to get justice? Recent research based on data from the National Crime Records Bureau (NCRB) confirms the above-mentioned fact. Please click...
More »Why demonetisation is a disaster - detailed analysis of RBI data -James Wilson
-TheNewsMinute.com How much black money will get back into the system? As of November 8, high-denomination notes of Rs. 500 and Rs. 1000 were 86.4% of the total currency in circulation, and ceased to be legal tender due to the demonetisation. RBI denotes these demonetised notes as “Specified Bank Notes” (SBN). As per RBI Annual Report 2015-2016, as of March 31, 2016, the value of the total SBN is Rs. 14.18 lakh...
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