-The Indian Express Demonetisation: The “pipeline” demonetised collections, according to these officials, include banned notes lying with citizens in Nepal as deliberations between the RBI and the Nepal Rashtra Bank (NRB) for the exchange of such notes did not fructify. New Delhi: On a day when the Reserve Bank of India (RBI) released the data for collected demonetised currency, top RBI officials told The Indian Express that the figure could creep closer...
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RBI says 98.96% of Rs 500, Rs 1000 notes returned after demonetisation -Gopika Gopakumar
-Livemint.com RBI annual report estimates value of Rs 500 and Rs 1000 notes returned was Rs 15.28 trillion against Rs 15.44 trillion in circulation before demonetisation Mumbai: According to Reserve Bank of India’s (RBI) annual report released Wednesday, 98.96% of Rs 500 and Rs 1000 notes (by value) that were invalidated due to the demonetisation exercise had been returned by the end of June. The numbers put to rest one of the big...
More »Arvind Panagariya raised red flags, couldn't stop power centres within -Pranav Mukul & Sunny Verma
-The Indian Express In January, Arvind Panagariya had raised the first red flag on the possibility of taxpayers being harassed post-demonetisation and had reportedly written to the Prime Minister’s Office. Under Arvind Panagariya, the Niti Aayog piloted several reforms ideas in both economic and social spheres, but the sudden departure of its vice-chairman has put under the spotlight the numerous occasions when difference of opinions between the think-tank and other wings of...
More »Aadhaar rebels find ways to avoid PAN linkage -Namita Devidayal & Lubna Kably
-The Times of India MUMBAI: In a quiet display of dissent, numerous taxpayers across the country have opted to file their tax returns manually, via snail-mail, rather than get an Aadhaar card. Many others filed their returns online early, prior to June 30, when the Aadhaar linkage was not mandatory. "Technically you should be able to file online even if you don't have an Aadhaar card, but the e-filing system does not...
More »17% of cash seized in raids during demonetisation were in new notes
-The Times of India NEW DELHI: As much as Rs 110 crore of the Rs 610 crore of unaccounted money seized in raids during demonetisation was in new Rs 2,000 and Rs 500 notes, indicating misuse of windows offered by the government to change old currency. The new currency seized by police and Income Tax officials was partly generated through routes such as petrol pumps, railway and airline ticketing and toll plazas...
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