-The Hindu Centre for Politics and Public Policy Prime Minister Narendra Modi's announcement demonetising high denomination notes on November 8, 2016, will do little to address the prime objective of flushing out black money but will adversely affect the economy in the short term, especially the informal sector, which is predominant in India, says M. Govinda Rao, a Member of the Fourteenth Finance Commission and Emeritus Professor, National Institute of Public...
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Demonetisation: Rs 14 lakh crore cash value out, only 1.5 lakh crore in, says report -Pranav Mukul & Aanchal Magazine
-The Indian Express It could be “several months” before RBI is able to plug the Rs 14.18 lakh crore hole left behind by the withdrawal of the 2,203 crore pieces of Rs 500 and Rs 1,000 notes, as per the estimates. New Delhi: As the country struggles to cope with a desperate shortage of currency, new notes worth only Rs 1.5 lakh crore have come into circulation so far, says a November...
More »Demonetisation: In two weeks, 60% rise in total balance in Jan Dhan accounts -Shyamlal Yadav & Jay Mazoomdaar
-The Indian Express While the increase in balance in accounts in public sector Banks was 56 per cent, it was 66 per cent in private sector Banks. New Delhi: In the two weeks after the Centre’s demonetisation move, the total balance in Jan Dhan accounts increased by nearly 60 per cent, online data updated by the government on Saturday revealed. While the total deposit in Jan Dhan accounts was Rs 45,637 crore...
More »Rural distress -TK Rajalakshmi
-Frontline.in To rural India, which is already reeling under multiple crises, demonetisation has come as yet another blow. WHEN the Prime Minister made the decision to withdraw Rs.500 and Rs.1,000 notes, he did not quite factor in the impact it would have on agriculture. Despite the rhetoric the concept of digital wallets has not yet entered rural India unlike in much of the country’s urBan areas, and much of rural and...
More »Demonetisation: Investigate unusual spurt in deposits
-The Economic Times A graphic on this page on Thursday showed a steep increase of Rs 4.8 lakh crore in Bank deposits in September over the August figure. This spurt, ahead of the demonetisation of Rs 1,000 and Rs 500 notes announced on November 8, was not seasonal. It needs to be inquired into, to rid the demonetisation drive of a possible taint in the form of suspicion that some people...
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