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

Demonetisation, GST affecting Mudra loan recovery, says Shiv Sena

"In the early stage, these entrepreneurs suffered from decisions such as demonetisation and haphazard implementation of Goods and Services Tax. It has affected loan recovery," an editorial in party mouthpiece 'Saamana' read.

When will Ram temple be built if not when Modi govt has majority: Shiv Sena

The editorial noted that Modi appeared defensive in the interview. “The anxiety of 2019 was evident on his face and in body language. It is the truth,” it added.

Advertising

To stir activity in real estate: Four-day mega property show in Rajkot from today

The show — Property Expo & Showcase, 2019 — will end on January 7. The expo will remain open to public from 10 am to 11 pm.

Explained Snippets: How RBI printing bill rose in noteban year, fell in next

During 2015-16, the year prior to demonetisation, the expenditure incurred by the Reserve Bank of India (RBI) on printing of currency notes was Rs 3,421 crore.

Note-ban led to a three percentage point decline in GDP: NBER

The report, however, said that while it had a short-term impact on economic activity and credit growth, there may be “long-term advantages from demonetisation.”

CIC: Disclose data on printing of Rs 2000 and Rs 500 post demonetisation

The Bhartiya Reserve Bank Note Mudran (P) Limited claimed that the printing of currency and related activities cannot be shared with people as it will result in "proliferation of counterfeit currency and economic chaos".

Advertising

Dip in jobs, profits for MSMEs; noteban, GST to blame: Survey

While job loss was reported at the rate of 43% in the trader segment, micro-segments reported job losses of 32%, small segments reported 35% and medium-scale industries reported 24% job losses.

Exhibition on rare coins begins, provides window into bygone eras

The exhibition also has a stall that is selling banned currency notes of Rs 500 and Rs 1,000 denominations, respectively for Rs 25 and Rs 50 per note.

Households' share in savings deposits rise post demonetisation

The household sector has accounted for 60 per cent of deposits with the Indian banking system in recent years.

“A huge opportunity to completely automate lending”: The growth of digital lending in India

Over the last decade many other digital lending platforms like Kissht, Capital Float, Faircent and Telr have popped up to harness the potential of this space

Demonetisation Videos

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

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

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.

Advertising

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

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

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

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

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?

Advertising
Advertising