-Livemint.com Cash scarcity led to a spike in digital payments post Demonetisation, but the trend reversed as remonetisation picked up pace New Delhi: Soon after Demonetisation was announced on 8 November last year, it was projected as part of a broader push towards a cashless economy. Several ministers and government officials claimed that this would nudge Indians to rely on non-cash or digital payments. In the weeks and months following Demonetisation, digital payments...
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Only those not skilled enough lost jobs: Prasad
-The Times of India BHOPAL: Union IT minister Ravi Shankar Prasad said on Tuesday that only those people who did not enhance their skills lost jobs after Demonetisation at a press meet in Bhopal on the eve of Demonetisation. Prostitution, too, Prasad claimed, had declined. Replying to questions on Demonetisation, the minister said, "There's a difference between job and employment. Only those who were not able to enhance their skills with...
More »Demolition, by Manmohan -Sanjay K Jha
-The Telegraph New Delhi: Manmohan Singh, once nicknamed Maunmohan by Narendra Modi, has delivered the most comprehensive and stringent critique yet of the Prime Minister and his governance, declaring failure with "both the head and the heart". Citing statistics but taking care to throw in personal elements and a historical perspective in the run-up to the Demonetisation anniversary, the former Prime Minister strafed his successor from multiple flanks. But the economist kept the...
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...
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