-The New Indian Express Having brought this economic disaster on the country, there was not a single statement of regret, introspection or even justification from the powers that be Demonetisation will go down in Indian economic history as one of the greatest policy blunders. In the two quarters prior to the ban on high denomination rupee notes, the Indian economy had registered around 9% growth. Since then, the growth steadily decelerated and...
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Returning torn Rs 200, Rs 2,000 notes may get only half their value! Here's what new RBI rules say
-BusinessToday.in The earlier rules for exchanging damaged currency notes did not apply to Rs 200 and Rs 2,000, and the notes released under the Mahatma Gandhi series due to their smaller sizes. While exchanging a damaged Rs 2,000 or Rs 200 note, you may get nothing or only half their value in refund depending on how badly the note is mutilated or soiled. The Reserve Bank of India has amended its guidelines...
More »RBI May Be Either Holding Back Or Could Have Stopped Printing Rs 2,000 Notes, Says SBI Report
-Outlook The Reserve Bank of India (RBI) may either be holding back Rs 2,000 notes or could have stopped printing high denomination currency, says a SBI Research report. Juxtaposing the data presented in the Lok Sabha recently with the one provided by RBI in its Annual Report earlier, the SBI Ecoflash report said today, "we observe" that the value of small denomination currency in circulation up to March 2017 was Rs 3,501...
More »Jean Dreze, development economist, interviewed by Ankita Virmani (Firstpost.com)
-Firstpost.com Development economist Jean Dreze has been vociferous critic of the Narendra Modi government's demonetisation of Rs 500 and Rs 1,000 notes a year back. He had famously warned that "demonetisation in a booming economy is like shooting at the tyres of a racing car". A year on, it seems his caution has come true. In the first quarter of the current financial year, the GDP growth slowed to a three-year...
More »Has no counting machines but using sophisticated tools to check scrapped notes: RBI
-PTI NEW DELHI: The Reserve Bank of India (RBI) is not using 'counting machines' for tallying the total number of demonetised notes of Rs 500 and Rs 1,000 in any of its offices, the central bank has said in an RTI reply. Rather, it is using "sophisticated Currency Verification and Processing (CVPS) machines for checking the numerical accuracy and genuiness of the currency notes, including SBNs (Specified Bank Notes that have...
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