-The Indian Express Urjit Patel to appear before PAC on January 28, list of 10 questions sent New Delhi: THE PUBLIC Accounts Committee (PAC) headed by senior Congress leader K V Thomas, which has asked Reserve Bank of India (RBI) Governor Urjit Patel to appear before it on January 28, has asked him 10 probing questions on the demonetisation issue — from the decision-making process to the level of RBI’s involvement, impact...
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Report cash deposits between April 1 and November 9, 2016, Income Tax Department asks banks
-PTI NEW DELHI: The Income Tax Department has asked banks to report cash deposits in savings accounts between April 1 and November 9, 2016. The move seeks to analyze the banking transactions carried out in months before the demonetisation decision was announced on November 8. Besides, banks have also been directed to ask the account holders, who did not furnish PAN (Permanent Account Number) or Form 60 (for those without PAN) at the...
More »Demonetisation U-turn? RBI now turns away people wanting to exchange Rs 500, Rs 1,000 notes
-PTI New Delhi: Hundreds thronging the RBI office to exchange old Rs 500 and 1,000 notes returned empty handed as the central bank is allowing the facility only for NRIs or those who were abroad during the 50-day demonetisation period.' Prime Minister Narendra Modi in his address to the nation on 8 November, 2016 had said, "There may be some who for some reason, are not able to deposit their old 500...
More »What the RBI Should Do to Minimise the Impact of Demonetisation -Surajit Das
-TheWire.in People have lost their jobs, small businesses are closing down and the agricultural sector has been hit hard as a result of demonetisation. The RBI must increase the supply of cash to curb further fallout. Money is not cash. In fact, cash in circulation was just 14% of all money in 2015-16 according to the Reserve Bank of India (RBI). Measures of money also count close substitutes of cash including the...
More »After Ignoring Mandated Maternity Entitlements, Modi Makes a Recycled Promise -Jahnavi Sen
-TheWire.in The Rs 6,000 announced by the prime minister as universal maternity entitlements is already mandated under the National Food Security Act 2013, although the government has chosen not to implement it yet. New Delhi: In his New Year’s Eve address to nation, Prime Minister Narendra Modi made some bizarre claims about the nature of the economy and the use of black money. But a large chunk of his speech was focused...
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