-The Telegraph New Delhi: The RBI has said deposits of demonetised notes with a value of over Rs 5,000 would be allowed just once in a bank account between now and December 30. The announcement not only lengthened the list of abrupt changes enforced since the note recall was announced on November 8 but also fuelled suspicion that the government is trying to dissuade people from depositing demonetised notes. The value of such...

-The Hindu Shaktikanta Das says Rs. 12.44 lakh crore in invalid notes may not have come back to banks The Finance Ministry on Thursday said the Rs. 12.44 lakh crore figure reported by the Reserve Bank of India as the amount having been deposited in banks since the November 8 demonetisation announcement could be inflated due to double-counting. Department of Economic Affairs Secretary Shaktikanta Das said the RBI had infused three times the...

-Hindustan Times Village Khokh (Patiala): Nek Singh Khokh fears he might wilt, just the way the saplings in his sprawling nursery might. Ever since Prime Minister Narendra Modi unveiled his demonetisation plan, scrapping big denomination currency to drain the economy of black money and Counterfeits, Khokh has been struggling to pay labourers to tend to his saplings. The owner of a nursery, some 25 km west of the Punjab town of Sirhind, Khokh...

-Caravan Magazine On 8 November 2016, Prime Minister Narendra Modi made an announcement declaring that notes of Rs 500 and Rs 1,000 would not be legal tender as a part of his government’s policy to clamp down on Counterfeiting and black money. It has been widely reported that this policy would directly impact the real-estate sector, which typically witnesses a significant amount of transactions that are made through cash to avoid...

-Livemint.com The possible macroeconomic consequences of demonetisation are cause for concern as cash is the lifeblood of the economy It is exactly one month since Prime Minister Narendra Modi announced the decision that Rs.500 and Rs.1,000 notes would cease to be legal tender acceptable for payments in settlement of transactions. There was some provision for exchange or deposit of old notes at banks, but with specified limits on sums and time. The past...