-IANS New Delhi: India’s cash-driven agri sector continues to reel under the effects of demonetisation, with farmers growing fruits and vegetables suffering “huge losses”, say farm leaders who want the Union budget to “compensate” them for these losses. Amid reports of farmers dumping or refusing to harvest crops like tomatoes and peas due to a crash in prices as traders did not have the cash to purchase the produce, farmer leader Ajay...
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Government spends Rs 3.09 per Rs 500 Currency note: RTI
-IANS RBI buys the Currency notes from the Bharatiya Reserve Bank Note Mudran Pvt Ltd Mumbai: The Reserve Bank of India (RBI) spends Rs 3.09 for each Rs 500 note as cost towards paper, printing and other charges, an RTI query has revealed. The information was given here on Friday to Mumbai Right To Information activist Anil Galgali on his query on the printing costs incurred by the government for printing Rs 500...
More »FinMin agencies find no counterfeit notes in post-demonetisation search operations -AM Jigeesh
-The Hindu Business Line Chennai tops in seizure of money, Delhi is a distant second New Delhi: The Finance Ministry has said that no counterfeit Currency was seized by any of its agencies during searches conducted between November 8 and December 30. In a written response to questions posed by Parliament’s Public Accounts Committee, which is looking into demonetisation and its impact on monetary policy, the Ministry said an amount of Rs....
More »House panel criticises RBI governor for inability to answer demonetisation questions
-The Economic Times Members of the Parliamentary Standing Committee on Finance on Wednesday criticised Reserve Bank of India Governor Urjit Patel for his inability to answer queries related to demonetisation. "Patel was unable to tell us how much money has come back to the banks," said Saugata Roy, TMC MP. "The governor was unable to tell us that how much old Currency has come into the banks," added Saugata Roy. Sources also quoted...
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...
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