-PTI Mumbai: Defying the impact of the note-ban which has yanked down consumer sentiment, rural wages have been on a steady upward spiral, rising by 7.3 per cent in November, suggesting a likely release of pent-up demand after demonetisation, says a report. “Nominal rural agricultural wages rose to 7.3 per cent year-on-year in November, from 6.9 per cent in October, remaining well above the previous 12-month average of 4.8 per cent,” Japanese...
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Cash withdrawal curbs may be lifted by Feb. -end
-The Hindu With the cash crunch situation easing, Reserve Bank of India may do away with the weekly withdrawal limits from banks as well as ATMs by the end of next month, bankers said. The RBI had recently raised the ATM withdrawal limit to Rs. 10,000 a day but maintained the weekly cap at Rs. 24,000 for savings account and Rs. 1 lakh for current account holders. “I think the restrictions on withdrawal...
More »India in red zone on transparency list
-The Hindu The annual index of Transparency International issued on Wednesday for 2016 placed India with Brazil and China in the 40th position. A major international index of corruption and transparency has placed India on the watch list for its inability to curb mega corruption scandals and petty bribery. The annual index of Transparency International issued on Wednesday for 2016 placed India with Brazil and China in the 40th position. India’s condition...
More »Modi govt went ahead with demonetisation despite RBI concerns: report -Rajesh Kumar Singh and Suvashree Choudhury
-Livemint.com RBI’s testimony to parliamentary panel shows the bank had warned the government of possible inconvenience to the public for some time New Delhi/ Mumbai: India pushed ahead with its decision to demonetise high-value banknotes even as the Reserve Bank of India’s (RBI) own board expressed concern whether the cash could be replaced quickly enough, the central bank has said in written testimony to parliament. The revelation comes amid growing criticism about whether...
More »Government spends Rs 3.09 per Rs 500 currency note: RTI
-IANS RBI buys the currency notes from the Bharatiya Reserve Bank Note Mudran Pvt Ltd Mumbai: The Reserve Bank of India (RBI) spends Rs 3.09 for each Rs 500 note as cost towards paper, printing and other charges, an RTI query has revealed. The information was given here on Friday to Mumbai Right To Information activist Anil Galgali on his query on the printing costs incurred by the government for printing Rs 500...
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