-The Hindu Shaktikanta Das says Rs. 12.44 lakh crore in invalid notes may not have come back to banks The Finance Ministry on Thursday said the Rs. 12.44 lakh crore figure reported by the Reserve Bank of India as the amount having been deposited in banks since the November 8 demonetisation announcement could be inflated due to double-counting. Department of Economic Affairs Secretary Shaktikanta Das said the RBI had infused three times the...
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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 »Demonetization: Pain or gain? -BM Singh
-Livemint.com Mere demonetization would not serve the purpose, it would have to be taken in conjunction with other measures to correct systemic faults and not just destruction of cash Most of the country and even foreigners are going gaga over the move by the government to demonetize high-denomination notes. A presumption has been made that they mostly reflect black money or unaccounted wealth. A bold move indeed and there are many who...
More »Delhi government starts langar for poor who are affected by Currency ban
-The Times of India NEW DELHI: Call it playing politics or what you will, but in a move that will gladden many, the Delhi government yesterday began providing free food for the poor who are now doubly hit by the shortage of cash due to demonetisation. "This move has been undertaken to provide the poor with three meals a day and save them from dying of hunger due to demonetisation," tweeted Delhi's...
More »'My business will be finished': Cash crunch hits farmers in Punjab -Gurpreet Singh Nibber
-Hindustan Times Village Khokh (Patiala): Nek Singh Khokh fears he might wilt, just the way the saplings in his sprawling nursery might. Ever since Prime Minister Narendra Modi unveiled his demonetisation plan, scrapping big denomination Currency to drain the economy of black money and counterfeits, Khokh has been struggling to pay labourers to tend to his saplings. The owner of a nursery, some 25 km west of the Punjab town of Sirhind, Khokh...
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