-The Economic Times Farmers accustomed to decades of government policy failure are willing to bear the pain caused by the government’s decision to recall Rs 500 & 1000 bills, but engineering a systematic failure of the rural cooperative Banking sector would be an unpardonable desecration. Earlier rural Bank branches were given a step motherly treatment: Rural cooperative Bank branches were not replenished with lower denomination currency, while the newer higher denomination notes...
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People in remote villages suffer the most -Kavita Upadhyay
-The Hindu Gopal Singh of Lamdegadh hamlet, which crowns a hill of Chamoli district near the Kumaon-Garhwal border, has to walk 8 km to reach the nearest motorable road. Chamoli (Uttarakhand): In sleepy Uttarakhand villages, tucked away inside lush green forests far from motorable roads, there has been a sudden burst of activity for a few days now as people rush out of their houses in the early hours each day, hoping...
More »Dr. Kavita Rao, professor at National Institute of Public Finance and Policy (NIPFP), interviewed by Supriya Sharma (Scroll.in)
-Scroll.in The author of a paper published by a research institute under the Ministry of Finance expands on its conclusions. The drying up of cash has thrown the lives of millions of Indians in disarray. But many facing hardship support the government’s move. In BaraBanki, Uttar Pradesh, a farmer who did not have cash to buy seeds and fertilisers, said, “Now when rich people deposit money in the Bank, the income tax people...
More »Govt admits big gaps in urBan work force -Basant Kumar Mohanty
-The Telegraph New Delhi: About 57.57 per cent of India's urBan population of 300 million has no source of income, socio-economic data released by the government last week suggests, prompting at least one analyst to wonder if this was the reason people were willing to queue up for the whole day to exchange cash. Thirty-seven per cent are engaged in work ranging from begging to government jobs, earning some income. About 5.90...
More »Notes Ban: On Indelible Ink, Election Commission Raises Concern With Government
-NDTV New Delhi: The Election Commission has raised concern over the use of indelible ink in Banks after the notes Ban, saying the move should not affect the "election process in any manner". Five states will hold by-elections on Saturday. In a letter to the Finance Ministry, the Commission has said that several states will hold elections and there will be confusion as indelible ink also marks citizens who have already...
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