-PTI NEW DELHI: Transactions through debit and credit cards rose by merely seven per cent post Demonetisation, as against a surge of over 23 per cent in overall digital transactions, top government officials told a parliamentary panel. Officials from various ministries gave a presentation to the Parliamentary Standing Committee on Finance on 'Demonetisation and Transformation towards Digital Economy'. The digital transactions in all modes increased by 23 per cent to 27.5 million in...
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Under Operation Clean Money II, 6.6 lakh more persons on I-T radar -Surabhi
-The Hindu Business Line Uses SFT to identify people who made high cash deposits during Demonetisation period New Delhi: In hot pursuit of black-money hoarders who may have made high-value cash deposits during the Demonetisation window, the Income Tax Department has identified an additional 6.6 lakh people in the second phase of Operation Clean Money. The Central Board of Direct Taxes (CBDT) has harvested information from the Statement of Financial Transactions (SFT) to...
More »1.5 Million Jobs Lost During First Four Months of 2017, Says CMIE
-TheWire.in While this is likely a side-effect of Demonetisation, more research is needed to unpack how India’s unemployment rate fell in January-April 2017. New Delhi: The Modi government’s Demonetisation decision may have resulted in the loss of roughly 1.5 million jobs, according to new survey data put out by the Centre for Monitoring Indian Economy (CMIE). CMIE’s data is based on the result of consecutive waves of household surveys performed from January 2016...
More »Parliamentary panel to question RBI Governor Urjit Patel on Demonetisation today
-The Indian Express The panel members have planned to ask Urjit Patel questions regarding RBI's preparedness for digital transition. They will also question about how much money has come back into the system after the November 8 decision to place the existing currency notes of Rs 1000. Reserve Bank of India (RBI) Governor Urjit Patel will appear before the Parliamentary panel on Wednesday to respond to clarifications demanded by the panel on...
More »Non-availability of machines slowed down counting of withdrawn notes: Urjit Patel -AM Jigeesh
-The Hindu Business Line Remonetisation taking place at a good pace, RBI Governor tells House panel New Delhi: RBI Governor Urjit Patel told the Parliamentary Standing Committee on Finance that the non-availability of the currency verification processing system (CVPS) machines is one reason why the counting of demonetised notes is not yet done. Though he painted a rosy picture of the digitisation process in the country post-Demonetisation before the panel, figures presented by...
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