-The Hindu PoS devices’ demand falls on remonetisation, user charges Cash transactions are beginning to trump almost every form of digital payment alternative with April clocking a decline in volumes as well as value of transactions conducted through cards, mobile banking and the Unified Payment Interface (UPI). The trend assumes significance six months after the Centre announced demonetisation of ?500 and ?1,000 notes on November 8. The near-completion of the remonetisation process and merchants...
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Look at the facts of demonetisation, not politics -Kaushik Basu
-The Indian Express Six months later, it is clear that it achieved next to nothing, and inflicted a large cost on the poor and the informal sector. It was six months ago, on November 8, that India hit the headlines the world over, with its sudden demonetisation. It was announced in the evening that, at the stroke of the midnight hour, all bank notes of Rs 500 and Rs 1,000 would cease...
More »In Response To RTI, RBI Says Sharing Details Of Demonetisation Process May Hurt Country's Economic Interests -Ashwini Srivastava
-Outlook Six months after the announcement of demonetisation by Prime Minister Narendra Modi, the RBI has declined to share details of the Note Ban process, saying it would be detrimental to the country's economic interests. Replying to an RTI query, the central bank said disclosing such details may impede future economic or fiscal policies of Government of India. The Reserve Bank of India (RBI) was asked to provide a copy of the minutes...
More »Tricks of a trade -Divya Trivedi
-Frontline Cattle traders see a nexus between cow vigilantes and animal rights organisations in Delhi, where vigilantes unleashed violence in April. In the past year, 40,000 animals seized by them were not returned to the owners, and traders believe that they were sold. A PLANNED and brutal assault on cattle traders in Kalkaji in Delhi on April 22 by a mob of gau rakshaks (cow protectors) has brought to the fore...
More »After 6 months, RBI still in dark on junked notes -AM Jigeesh
-The Hindu Business Line Central bank says specified bank notes yet to be reconciled with the physical cash balances New Delhi: Even six months after the demonetisation exercise, the Reserve Bank of India is yet to complete the accounting of the withdrawn Rs. 1,000 and Rs. 500 notes. The RBI has admitted as much in a 15-page response late in April to questions from the Standing Committee on Finance, headed by veteran Congress...
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