-The Indian Express While owners say production has been hit as a result of people skipping work to withdraw money or exchange old notes, workers say they have been doing it for their owners. New Delhi: SINCE THE November 8 announcement that rendered old Rs 500 and Rs 1,000 notes invalid, workers of factories in the industrial suburbs of the national capital have been spending more time queuing up outside ATMs and...
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'Rollback Demonetisation', Say Eminent Citizens
-TheWire.in The government’s decision to demonetise Rs 500 and Rs 1000 notes, announced by Prime Minister Narendra Modi last week, has led the nation into a situation of chaos. Endless queues have formed before banks and ATMs and the cash economy has been affected adversely. Over 150 eminent citizens have issued a statement today, against demonetisation, questioning its efficacy in eliminating black money. The statement – signed by Prabhat Patnaik, Nayantara Sahgal, Prashant...
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...
More »Cash Crunch In Marathwada Village: In year of good yield, currency ban hits crop prices -Parthasarathi Biswas
-The Indian Express The State Bank of India, Maharashtra Gramin Bank and Nanded District Cooperative Bank have branches in Malegaon. But only the SBI and Gramin Bank branches are dispensing cash. Malegaon (Nanded): The family of Pralhad Ingole, a farmer who owns about 6 acre of land, is struggling in the absence of cash. The lone ATM in their village of Malegaon in Nanded district, operated by the State Bank of...
More »IIT-D shows how Punjab can re-use farm waste -Manash Pratim Gohain
-The Times of India New Delhi: Are you a farmer? How about earning a handsome amount from the stubble left behind in your field instead of burning it and adding to the pollution level? How about also getting bio-fertiliser and sustainable energy in the same deal? An IIT-Delhi team has provided technical support to Asia's first biogas-based power plant which is now operating on paddy straw for large-scale biogas production in Fazilka, Punjab....
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