-PTI BUNDI: Cash-starved farmers in Bundi villages - where ATM and Bank branches are hard to find - have resorted to the ancient barter system, exchanging wheat and pulses with other commodities. For farmers in the villages it is literally a return to the old days. Wheat is currently being sold for Rs. 21 to 24 per kg but the locals in villages are forced to purchase commodities weighing equal to wheat thus...
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Pronab Sen, Country director of the International Growth Centre, interviewed by Ajaz Ashraf
-Scroll.in India’s first chief statistician, Pronab Sen, is now country director of the International Growth Centre, which seeks to build effective growth facilities through engagement between policymakers and researchers. In this interview to Scroll.in, he speaks on the 50 days of demonetisation, its failings, its severe impact on the poor, the loss of credibility of the Reserve Bank of India, the push to make India a cashless or less-cash economy, and...
More »Disclosing Reasons for Demonetisation Will Hurt India, Says RBI
-TheWire.in Refusal to disclose reasons for the demonetisation decision does not stand up to legal scrutiny, RTI experts say. New Delhi: It’s time to call it the Reserved Bank of India. Fifty days after the board of India’s central Bank voted to discontinue all Rs 500 and Rs 1000 notes and the prime minister announced the demonetisation of 86% of India’s cash stock, the Reserve Bank of India has said the reasons for...
More »RBI puts up a firewall on Demonetisation -Abhishek Shukla
-PTI While the Government and Banks want transparency from citizens, they refuse to be transparent themselves as the RBI again refuses to respond to RTI applications seeking reasons for Demonetisation Why were Rs. 1,000 and Rs. 500 notes demonetised by the government? Fifty days after the government announced that these notes would cease to be legal tender, Reserve Bank of India feels that the reasons behind the sudden announcement cannot be made public. The...
More »Why a Parliamentary Act - or ordinance - is needed for demonetisation -Pratik Datta & Rajeswari Sengupta
-Scroll.in Without it demonetisation would be legal, but the RBI would continue to remain under a legal obligation to keep on exchanging the old notes with new ones. On November 8, 2016 the Rs 500 and Rs 1,000 notes were “demonetised”. This move has raised three interesting legal questions. Writ petitions have been filed across the country challenging the legality of demonetisation. Petitions are pending before High Courts of Kerala, Bombay, Delhi,...
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