-Hindustan Times Prominent Indian banks have claimed there is no cash crunch, but fact remains that ATMs run dry during long weekends. The crisis began in November when the Union government pulled 500 and 1000 rupee banknotes from circulation as a part of its crackdown on black money. New Delhi: It has been six months since demonetisation, but, “Is there cash in the ATM?” continues to be the most popular question...
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Demonetisation: Cash withdrawals in March nearly the same as last year -mahua Venkatesh
-Hindustan Times Withdrawals from ATMs in March this year stood at 2,259 billion — 0.6% more than what people withdrew in the same month last year. Cash transactions are back in vogue despite the government’s push for a less-cash economy post-demonetisation, Reserve Bank of India (RBI) data on ATM cash withdrawals indicate. Withdrawals from ATMs in March this year stood at 2,259 billion — 0.6% more than what people withdrew in the same...
More »Forced out of the forest -K Venkateshwarlu and S Murali
-The Hindu For the Chenchus, the Nallamala forest is their home. Not any longer after a National Tiger Conservation Authority order stripped them of their rights in a bid to fortify India’s largest tiger reserve. The sun has barely risen but the Chenchu men and women along with their children are out on a long trek, one which will take them deep into the Nallamala forest along the Eastern Ghats, in...
More »Post-demonetisation, shell companies laundered at least Rs. 3,900 crore -mahua Venkatesh
-Hindustan Times New Delhi: At least Rs 3,900 crore was laundered through shell companies between November-December after the ban on high-value banknotes, investigations by a central agency have found. The probe by the Serious Fraud Investigation Office (SFIO) has also identified at least 54 people who helped 559 beneficiaries with laundering the illicit cash, sources said. The government recalled 500 and 1000-rupee notes on November 8 in a move it said was aimed...
More »Demonetisation effect: Govt, RBI to bring tougher norms for co-op banks -mahua Venkatesh
-Hindustan Times The government and Reserve Bank of India (RBI) are set to bring out tougher norms for cooperative banks, which have come under scanner for alleged discrepancies and irregularities in the wake of the demonetisation drive. According to a recent report by the income tax department, most banks have indulged in money laundering after the Narendra Modi government announced ban on high-value bank notes of Rs 500 and Rs 1,000 from...
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