-Business Standard RBI says it has released only Rs 4 lakh crore but banks have received Rs 11.55 lakh crore in deposits from the public; 65% currency remains unreplaced New Delhi: Even as India grapples with an acute shortage of currency notes, Reserve Bank of India (RBI) Governor Urjit Patel on Wednesday announced that Rs 4 lakh crore (19.1 billion notes) had been injected into the system. The crunch might go on...
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Law to regulate working condition of domestic workers demanded
-PTI The platform has also drafted a model Domestic Workers Regulation of Work and Social Security Bill and discussion on it was held with various stakeholders. New Delhi: Civil society organisations and trade unions under the banner of National Platform for Domestic Workers today demanded a comprehensive legislation to regulate their working condition and provisions for social security benefits. The platform has also drafted a model Domestic Workers Regulation of Work and...
More »Cash crunch rains misery on farmers after below-par monsoon -Nidheesh MK, Dharani Thangavelu and Sharan Poovanna
-Livemint.com The impact of cash crunch on farmers is likely to have a cascading effect on the broader economy in southern India Bengaluru/ Chennai: P.V. Rajappan, a rice farmer in Kerala’s drought-hit Palakkad district, had been Planning to drill a borewell to irrigate his next crop. He thought he would be able to do it this year. Rajappan delivered his entire harvest—10,210kg of paddy—to the state-run Civil Supplies Corporation, popularly known as...
More »Rs. 35,000 cr. to ease rural cash crunch -Manojit Saha & Vikas Vasudeva
-The Hindu Centre relaxes curbs, allows farmers to buy seeds with old Rs. 500 notes. Union Finance Minister Arun Jaitley directed commercial bank chiefs on Monday to focus their attention on rural India’s cash crunch over the next 40 days, with a war chest of Rs. 35,000 crore for providing credit to farmers by December. The Centre also relaxed its demonetisation policy for high-value currency notes further by allowing farmers to buy seeds...
More »Govt admits big gaps in urban work force -Basant Kumar Mohanty
-The Telegraph New Delhi: About 57.57 per cent of India's urban population of 300 million has no source of income, socio-economic data released by the government last week suggests, prompting at least one analyst to wonder if this was the reason people were willing to queue up for the whole day to exchange cash. Thirty-seven per cent are engaged in work ranging from begging to government jobs, earning some income. About 5.90...
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