-The Financial Express Thiruvananthapuram: Ration shops in Kerala are readying to go the ATM way soon. As many as 14,500 ration retail shops in Kerala will soon be equipped with electronic point of sale (ePoS) machines, which would work as micro-ATMs. The Kerala State IT Mission has been asked to hasten a connectivity survey in rural areas to ensure uninterrupted internet connection, before introducing micro-ATM facility at all fair-price shops. Although the...
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PMO Has No Information on Officials Consulted Before Demonetisation
-PTI New Delhi: There is no information available about officials whose views were taken before the decision to demonetise high-value currency notes was announced by Prime Minister Narendra Modi on November 8, the Prime Minister’s Office (PMO) has said. The PMO also refused to answer a query on whether the chief economic advisor (CEA) and the finance minister were consulted before the sudden announcement was made, saying the query does not come...
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 »Poor swiped out in choice-less, not cash-less, society -Aruna Roy and Nikhil Dey
-The Indian Express For the poor, with little cash in the first place, digital promises to ‘swipe’ them out, before their marginalisation is even addressed. Demonetisation is, by its very nature, an autocratic, coercive step. The demonetisation of November 2016 has affected every single Indian. We are, as usual, persuaded to bear the pain and suffering, to “sacrifice” for the nation. The rhetoric continues but it now seems clear that the objective...
More »Centre disputes RBI's deposit count
-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...
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