-NDTV (With inputs from agencies) As ATMs ran dry in several parts of the country, finance minister Arun Jaitley said the shortage is temporary and is being tackled quickly. New Delhi: In response to reports that ATMs in several states are running dry, Finance Minister Arun Jaitley today conceded a "temporary shortage in some areas" and said it was being "tackled quickly". The Reserve Bank of India said the shortage...
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Demonetisation ground report: Farmers in Maharashtra say black money is back in circulation -Jayashree Bhosale
-The Economic Times Balasaheb Ghadge, who works as a clerk in the village panchayat in the tribal belt of Andar Maval in Maharashtra and also runs a small kirana store, was a staunch supporter of demonetisation when it was announced. A year on, he is worried that poor farmers continue to suffer from the government’s move. “At the national level, the decision must have yielded results, but for us, life has...
More »Demonetisation anniversary: Why less cash in itself may not necessarily mean less black money -Sunny Verma
-The Indian Express It can also mean other things such as currency shortage, transaction mode shift. The government has presented a lower cash-to-GDP ratio as a key achievement of demonetisation, and a measure of black money being checked. Economists, however, caution against reading this metric in isolation. Prime Minister Narendra Modi said last month that the cash-to-GDP ratio is down to 9% after demonetisation, from over 12% earlier. “Was it possible if a...
More »Cash still king as digital payments inch up slowly -Rachel Chitra
-The Times of India CHENNAI: If demonetisation was a push for a cashless economy, it has been working very slowly. Reserve Bank of India data shows the usage of wallets, non-UPI banking apps and Aadhaar-enabled payments has been slow to catch on, while that of debit cards has fallen. The UPI payments have been growing, and a significant chunk of them are mobile-based. Overall, electronic payments stood at Rs 200 trillion in...
More »Has euphoria in Uttar Pradesh over fighting black money turned into disappointment? -Gyan Varma
-Livemint.com Political analysts feel there is a sense of dissatisfaction in Uttar Pradesh on demonetisation, though the political dominance of the BJP continues Baghpat, Shamli and Sardhana (Uttar Pradesh): Ved Pal, a 35-year-old farmer from the village of Bodda in Baghpat district, thinks demonetisation was the right thing to do even if its immediate aftermath was painful. “Any new work undertaken by any individual or government will always face problems; so demonetisation...
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