-NDTV Mirzapur, Uttar Pradesh: The cash crunch in the aftermath of the government's ban on Rs. 500 and Rs. 1,000 notes is bad enough in metros with block-long queues. But how bad is it in the small towns of India? Deep in eastern Uttar Pradesh, in Vindhyachal and Mirzapur, NDTV did a reality check. And the results were staggering. The journey started at 9 am, outside the ICICI bank ATM in the...
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Digital push problem: 9 of 10 cards used at ATMs, not for purchases -Sunny Verma
-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...
More »Centre to fund digital discounts -Nistula Hebbar
-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...
More »Rs 1 lakh crore: fall in bank credit growth in fortnight after Nov 8 -George Mathew
-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...
More »Cashless bliss? Tea belt deflates dream -Avijit Sinha & Anirban Choudhury
-The Telegraph An indication of how far Narendra Modi could be from the dream of making India a predominantly cashless economy is available in a survey done by a tea planters' association in the Dooars, a tribal belt that employs lakhs of Bengal's workforce in tea estates. The survey done by the Dooars Branch of the Indian Tea Association (DBITA) in its 55 member gardens of the 80-plus estates dotting Japaiguri district...
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