-The Times of India NEW DELHI: Retail inflation cooled to five-year low in January on the back of sliding vegetable and food prices but the lurking price pressure may prompt the Reserve Bank of India (RBI) to maintain a wait-and-watch policy on interest rate for now. Data released by the Central Statistics Office (CSO) on Monday showed inflation, as measured by the consumer price index (CPI), rose 3.2% in January, slower than...
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Where are we, three months after Modi's demonetisation move? -Roshan Kishore
-Livemint.com Windfall gains and remonetisation claims are still uncertain, but the Indian economy has suffered a short-term pain for sure On 8 November, 2016 Prime Minister Narendra Modi announced the scrapping of Rs 500 and Rs1,000 notes, which constituted 86% of the currency in circulation. Exactly three months later, where does the Indian economy stand today? In an interview to Mint after the Union budget, economic affairs secretary Shaktikanta Das claimed that...
More »Salt to the wound -Prabhat Patnaik
-The Indian Express Government could have undone the damage of demonetisation through the budget. The opportunity has been missed in deference to the whims of global finance. Since 97 per cent of the value of demonetised currency has returned to the banks, causing, contrary to the government’s expectations, very little extinction of currency, it is obvious that demonetisation has totally failed to achieve its purported objective of denting the black economy. It...
More »EC renews plea to RBI for higher cash withdrawals
-The Hindu EC expresses "serious concern about the cursory manner in which the issue has been dealt with" The Reserve Bank of India (RBI) has turned down the Election Commission’s request to enhance the cash withdrawal limit for nominated candidates in the five poll-bound States, from Rs. 24,000 to Rs. 2 lakh per week, till the declaration of results on March 11. Asking the RBI to reconsider, the EC on Saturday again wrote...
More »Must follow our order: EC to RBI on raising cash limit
-The Indian Express EC had asked the central bank to relax the weekly bank withdrawal limit from Rs 24,000 to Rs 2 lakh for candidates contesting elections in Uttar Pradesh, Uttarakhand, Punjab, Goa and Manipur. New Delhi: The Reserve Bank of India (RBI) has shot down the Election Commission’s (EC) proposal to relax the weekly withdrawal limit for those contesting the Assembly elections, prompting an angry reaction from the poll panel, which...
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