-PTI The elite financial snooping unit of the country has compiled comprehensive data of such instances, including fake currency deposits, for the year 2017-18. NEW DELHI: The 2016 demonetisation of two high-value currencies has led to an all-time high generation of over 14 lakh suspicious transaction reports (STRs), a record 1,400 per cent jump over the past, by banks and other financial institutions in the country, a latest FIU report has found. The...
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Nyay scheme will 'remonetise' what Modi 'demonetised': Rahul Gandhi
-The Indian Express Congress president Rahul Gandhi said the Nyay scheme will achieve twin objectives of giving money to 20 per cent poorest families as well as firing up the economy. Days after announcing that the Congress would roll out a minimum income scheme guaranteeing Rs 72,000 a year to the bottom most or poorest 20 per cent of households if voted to power, party president Rahul Gandhi Thursday said the...
More »Analysis: What the Congress wants and the BJP doesn't -- a focus on demonetisation -Varghese K George
-The Hindu Unlike surgical strikes and raids in Pakistan, the proof of the impact of demonetisation is evident. Prime Minister Narendra Modi often speaks of his ‘bold decisions’ but he rarely publicises the boldest of all his decisions in this entire career — demonetisation. The abrupt announcement on November 8, 2016 to invalidate currency notes of ?500 and ?1000 was indeed decisive. But during this campaign, that is unlikely to be the...
More »RBI warned of demonetisation impact on Indian economy, no effect on black money
-PTI RBI had met just two-and-a-half hours before PM Narendra Modi announced demonetisation on 8 November 2016 The government has always maintained that demonetisation did not have much impact on India's GDP growth New Delhi: The board of the Reserve Bank of India (RBI), which included the present governor Shaktikanta Das as a director, had warned of short-term negative impact of demonetisation on Indian economy and observed that the unprecedented move will not...
More »Cash in system surges: Informal sector's back? -Mayur Shetty
-The Times of India MUMBAI: Currency in circulation touched a new high of Rs 20.65 lakh crore on January 18, 2019, way above the pre-demonetisation high of Rs 17.97 lakh crore. The increase in currency usage points to a recovery in 'informality' in the economy as the government goes easy on goods and services tax compliance and businesses continue using cash, according to Pranjul Bhandari, chief economist, India, HSBC. The acceleration of...
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