-The Indian Express He said the RBI board had “independently applied its mind” to send the relevant recommendation to the government. THERE WAS never any shortage of currency in the aftermath of the decision to demonetise high-value currency, Finance Minister Arun Jaitley told the Rajya Sabha on Tuesday while answering a clutch of questions on the issue. “At no point of time, not for a single day, was the currency inadequate. As...
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PMO Has No Information on Officials Consulted Before Demonetisation
-PTI New Delhi: There is no information available about officials whose views were taken before the decision to demonetise high-value currency notes was announced by Prime Minister Narendra Modi on November 8, the Prime Minister’s Office (PMO) has said. The PMO also refused to answer a query on whether the chief economic advisor (CEA) and the finance minister were consulted before the sudden announcement was made, saying the query does not come...
More »Centre disputes RBI's deposit count
-The Hindu Shaktikanta Das says Rs. 12.44 lakh crore in invalid notes may not have come back to banks The Finance Ministry on Thursday said the Rs. 12.44 lakh crore figure reported by the Reserve Bank of India as the amount having been deposited in banks since the November 8 demonetisation announcement could be inflated due to double-counting. Department of Economic Affairs Secretary Shaktikanta Das said the RBI had infused three times the...
More »Post demonetisation 95% of ATMs re-calibrated, but only 35% of them functioning -Khushboo Narayan
-The Indian Express India’s largest public sector bank, the State Bank of India, has also seen a jump in PoS transactions from 3.5 lakh to 11 lakh a day with more people using debit cards. Mumbai: One month into demonetisation, there has been a significant increase in digital payments. According to AP Hota, managing director and chief executive of the National Payments Corporation of India (NPCI), transactions through RuPay point of sale (PoS) machines have...
More »Imposed only reasonable restrictions, govt. tells SC -Krishnadas Rajagopal
-The Hindu Affidavit in SC denies any lack of preparedness in implementing the demonetisation policy Curb on money transactions, including withdrawals and wedding expenses, are “only reasonable restrictions” imposed on the rights of the public for a limited time, the government said in its latest affidavit. “Cancellation of legal tender of Rs. 500 and Rs. 1,000 notes is only a reasonable restriction and regulatory in nature. Merely because there is a restriction on...
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