-Hindustan Times The petitioners had questioned whether the Government carried out any study linking demonetisation as an effective tool to achieve the objectives of curbing black money, Terror Financing or fake currency. Hardships caused due to demonetisation cannot be the basis for faulting the Government’s 2016 notification to ban currency notes of ₹500 and ₹1000, the Centre told the Supreme Court, adding that the cutoff date December 30 fixed by the Centre...
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What Centre Told Supreme Court On Pleas Challenging Demonetisation
-PTI/ NDTV.com The Centre said judicial review of an economic policy may be restricted to where the court may only determine if there is a rational nexus with the object sought to be achieved through the means. New Delhi: Fake currency, Terror Financing and black money are three evils and are like 'Jarasandha' (an antagonist in Mahabharat) and should be cut into pieces, the Centre told the Supreme Court on Monday while...
More »Demonetisation "Well-Considered" Decision To Combat Black Money, Terror Financing: Centre To Supreme Court
-PTI/ NDTV.com The Union government submitted the decision of demonetisation was executed on the specific recommendation of the Central Board of the Reserve Bank of India. New Delhi: The 2016 demonetisation was a "well-considered" decision and part of a larger strategy to combat the menace of fake money, Terror Financing, black money and tax evasion, the Union government has told the Supreme Court. Defending its decision to demonetise currency notes of ₹ 500...
More »Demonetisation triggers 1400 per cent rise in suspicious transaction reports: Financial Intelligence Unit
-PTI The elite financial snooping unit of the country has compiled comprehensive data of such instances, including fake currency deposits, for the year 2017-18. NEW DELHI: The 2016 demonetisation of two high-value currencies has led to an all-time high generation of over 14 lakh suspicious transaction reports (STRs), a record 1,400 per cent jump over the past, by banks and other financial institutions in the country, a latest FIU report has found. The...
More »Analysis: What the Congress wants and the BJP doesn't -- a focus on demonetisation -Varghese K George
-The Hindu Unlike surgical strikes and raids in Pakistan, the proof of the impact of demonetisation is evident. Prime Minister Narendra Modi often speaks of his ‘bold decisions’ but he rarely publicises the boldest of all his decisions in this entire career — demonetisation. The abrupt announcement on November 8, 2016 to invalidate currency notes of ?500 and ?1000 was indeed decisive. But during this campaign, that is unlikely to be the...
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