-The Times of India KOLKATA: If you failed to find your favourite fish in the market on Wednesday, blame it on the confusion over currency demonetization. With money starting to trickle in, the scenario in the market has changed overnight. If the cash crunch led to a drastic fall in price of fish and vegetables in the last few days, perishable items disappeared all of a sudden on Wednesday. A few...
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When cash vanishes: A double-whammy -Parthasarathi Biswas
-The Indian Express Farmers are facing the heat from both collapse of demand and inability to purchase inputs post-demonetisation. Junnar (Maharashtra): The last one week and more has brought nothing but bad news for Vasant Pimpale. This farmer from Pargaon Tarfe Ale, a village in Pune district’s Junnar taluka, has already lost 11 tonnes of green chilli grown on eight out of his 15-acres holding. The loss hasn’t been courtesy drought, flood...
More »Netas using co-op banks for backdated FDs, DDs -Partha Sinha
-The Times of India MUMBAI: A few cooperative banks, mostly in rural areas, have found a new way to bypass banking system norms put in place by the government to fight the black money menace. Since PM Narendra Modi launched the demonetisation drive on November 8, these cooperative banks, which are yet to be computerised and still use physical ledger books, are taking cash from customers and opening backdated fixed deposits...
More »Why Demonetisation Will Not Eliminate Black Money or Corruption -Abusaleh Shariff and Amir Ullah Khan
-TheWire.in Demonetisation will only affect those who conduct transactions in cash, are not a part of the formal banking system or have not converted their cash into assets. The government’s demonetisation of Rs 500 and Rs 1000 notes is a contentious issue, but is understandable. Such schemes may have not worked in the past, but a political commitment had to be honoured. The question is not whether the government is right for...
More »In fact: When the money stops -Harish Damodaran
-The Indian Express The effects of de-monetisation will be the most acute when it spreads from consumption in households to production in factories and by farmers across the country. So far, the effects of Prime Minister Narendra Modi’s ‘de-monetisation’ of existing Rs 500 and Rs 1,000 denomination currency notes have been largely felt by households, shopkeepers and other microenterprises. These economic agents have, to a limited extent, adjusted to the new situation...
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