Follow Us:
Saturday, March 28, 2020

Demonetisation

In a surprise move, the Central government has demonetised Rs 500 and Rs 1,000 currency notes. The move is aimed at fighting black money. Ever since the policy came into effect, people have queued up outside ATMs and banks to withdraw notes or exchange old currencies. The opposition has slammed the government with Trinamool's Mamata Banerjee calling for a rollback. Demonetisation has led to a logjam in Parliament. Demonetisation is a radical monetary step in which a currency unit’s status as a legal tender is declared invalid. This is usually done whenever there is a change of national currency, replacing the old unit with a new one. In India, it was first implemented in 1946 when the Reserve Bank of India demonetised the then circulated Rs 1,000 and Rs 10,000 notes.

DEMONETISATION NEWS

P Chidambaram writes: The magic words ‘national interest’ do not signal correctness but finality

February 23, 2020 10:38 am

The magic words are ‘national interest’. They do not signal correctness, they signal finality. Because the PM has declared that the decisions were taken in national interest, he expects that all criticism should cease and all debate should end.

The Urdu Press: As economy slumps

January 31, 2020 12:52 am

The paper is of the view that “economic improvement must be the topmost priority of any government” and “if it takes back CAA unconditionally, the economic hit due to this will also stop.”

Three years after demonetisation, a 75-yr-old realises her money is worth nothing

January 05, 2020 11:23 am

"Who can make savings invalid like this? Why should people save money then?”

No, Rs 2,000 notes are not being withdrawn for Rs 1,000 denomination

December 17, 2019 10:54 am

A WhatsApp message claiming the Rs 2,000 notes will be demonitised first began doing rounds when an RTI application revealed in October that the RBI has stopped printing the notes. This gave rise to wide-spread rumours that the government is planning to demonetise the currency.

'No need to worry': MoS Anurag Thakur on reports of govt withdrawing Rs 2000 note

December 11, 2019 2:42 pm

Anurag Thakur told the Rajya Sabha that objectives of demonetisation were flushing out black money, eliminating fake currency notes, and boosting digitisation.

Akhilesh, Mayawati blame note ban for ‘slowdown, unemployment’

November 09, 2019 6:07 am

BSP chief Mayawati tweeted “The Central government without any preparation announced demonetisation... The note ban is the main cause for increasing unemployment and worsening of the economy...”

Demonetisation three years later: Cash in circulation up 25.6% to record high of 22.57L cr

November 09, 2019 4:31 am

The Rs 4,60,000-crore rise in the currency in the system in the past three years indicates that cash is still ruling the roost in the financial system despite the big push in digital transactions and less cash economy.

Demonetisation led to economic disaster: Opposition

November 09, 2019 12:19 am

While Congress chief Sonia Gandhi said demonetisation was a “Tughlaqi blunder” inflicted by a “tyrannical government” that wiped out over 1 crore jobs, West Bengal Chief Minister Mamata Banerjee said it led to an “economic disaster”.

Sonia Gandhi on note ban: Will ensure nation never forgets or forgives 'Tughlaqi blunder'

November 08, 2019 5:20 pm

On the third anniversary of demonetisation, Sonia also said that PM Modi and his ministers have never taken responsibility for the "faux pas" that claimed over 120 lives and proved a death knell for medium and small businesses.

SP will be in power in UP in 2022, wounds of demonetisation now deeper: Akhilesh

November 08, 2019 5:00 pm

"The wounds of demonetisation and GST have now become deeper. In 2022, it will be Samajwadi Party government in the state," Yadav said.

DEMONETISATION VIDEOS

‘Think of it the other way, not about govt raiding RBI, but how RBI could have behaved differently’

December 23, 2018 6:21 pm

In this edition of the Idea Exchange, Former Chief Economic Adviser Arvind Subramanian talks about demonitisation, defends GST, explains the reasons why growth has not been robust and reflects back on his tenure as Chief Economic Adviser of India.

The Agrarian Unrest Part 1: This could be the Narendra Modi government’s biggest problem

November 29, 2018 11:22 am

Thousands of farmers from across the country have taken to the streets. ‘Dilli chalo’ is their slogan. What do they want? And is agrarian distress this government’s biggest problem? Harish Damodaran explains.

Why a leader is aligning with someone is more important that who aligns with who; Mamata Banerjee has a major role: Amit Mitra, Bengal Finance Minister

November 26, 2018 6:37 pm

Bengal FM Amit Mitra talks about demonetisation, the problems with GST, failing Centre-state relations, the need for protecting and building institutions such as the RBI and CBI, investments in the state, and what the BJP “doesn’t get about Bengal".

Express Eye for Detail Ep 12: Two years of demonetisation, the Diwali mess and Faizabad renamed as Ayodhya

November 12, 2018 9:37 am

Two years on, The Indian Express learns that RBI did not approve of demonetisation and more about the week’s top stories in Express Eye for Detail episode 12.

How demonetisation and GST hit MSMEs: News in Numbers

November 08, 2018 8:52 am

Two years on, we look at how demonetisation (and GST) had an adverse impact on micro, small and medium enterprises or MSMEs. Here are some of the concerns that MSMEs are dealing with.

Demonetisation, a success? Is it still a question: News in Numbers

March 25, 2020 4:39 pm

The shortage of cash, decline in GDP, loss to small businesses and daily-wage workers - was it all worth it if most of the demonetised money is back in the system?

Rahul Gandhi Has A New Avatar!

November 03, 2017 8:31 pm