Tag: Demonetisation

By Sandeep Sahu In the one month since Prime Minister Narendra dropped the bombshell called ‘demonetization’ on an unsuspecting people, the ‘official’ objective of the mammoth exercise that has affected the economic activity of every single Indian has changed from a ‘battle against black money’ to a ‘movement towards a cashless economy’ – something that […]

By Sandeep  Sahu Marriages, they say, are made in heaven. But if you are unfortunate enough to be getting married between now and December 30, 2016, your marriage will be made in the Reserve Bank of India (RBI) boardroom! That, in short, is the key takeaway from the elaborate set of guidelines issued by the […]

By Sandeep Sahu It is a bewildering world out there. Forget the layman, even seasoned hacks of top notch media houses have been overwhelmed by the avalanche of misinformation, disinformation and motivated propaganda unleashed in both the mainstream and social media ever since Prime Minister Narendra Modi stunned the nation with his announcement about the […]

By Sandeep Sahu Indians are nothing if not ingenious. Trust them to turn adversity into a business opportunity. One just has to look at the innovative ways some people have devised to work around the ban on Rs 500 & 1000 notes that came as a bolt from the blue for the nation on November […]

By Sandeep Sahu A disclaimer at the outset: this columnist is an illiterate in economics and financial matters. But since writing on something else would be nothing short of blasphemy on a day when the whole nation has been thrown into a tizzy following the announcement on the demonetization of currency notes of Rs 500 […]

New Delhi: Getting a leg-up from the demonetisation of Rs 500 and Rs 1,000 currency notes in November 2016, the share of e-Money in India’s payment systems grew to 21.5 per cent in 2017 from 0.8 per cent in 2012, according to a new report prepared by the Reserve Bank of India (RBI). With Rs […]

New Delhi: Despite a large growth in digital payments after demonetisation of Rs 500 and Rs 1,000 notes in 2016, cash is “deeply embedded” in the payment system in India, according to a new report from the Reserve Bank of India. At 11.59 per cent of Gross Domestic Product (GDP) India had a high cash […]

New Delhi: After the demonetisation of Rs 500 and Rs 1000 notes in 2016 pushed digital payments, Aadhaar-enabled electronic know your customer (eKYC) resulted in an exponential growth of such payments in the country, according to a new report by the Reserve Bank of India. Transactions in which both the payer and the payee use […]

New Delhi: The Commerce Ministry on Thursday formed an 18-member working group under the chairmanship of Ramesh Chand, member, Niti Aayog, for revision of the current series of the Wholesale Price Index (WPI). The base year for the current series is 2011-12 and since then significant structural changes have taken place in the economy, which […]

New Delhi: The Union Budget has “unnecessarily defensive strokes, drop catches and quite a few no balls”, Congress leader Shashi Tharoor said in Lok Sabha on Monday, slamming the government for allegedly not addressing key issues facing the economy, including farm distress, and raising fuel prices. Tharoor, who was initiating discussion on the Union Budget […]

New Delhi: In a minor heckling, Union Minister Anurag Thakur on Friday was confronted at the industry event here with allegation that government’s demonetisation exercise was to blame for the current slowdown that has impacted the economy. Speaking at the ACMA (Automobile Components Manufacturers Association) annual convention here on Friday, Minister of State for Finance […]

Bhubaneswar: Fake currency circulation is still posing a real challenge in Odisha. Post dipping to a historic low in the demonetisation year, the total seizure value of Fake Indian Currency Notes (FICN) has again picked up pace to a record seizure of over Rs 7.3 crore in mere 9-months of 2019. However, the paradigm shift […]

Mumbai: Come January 2020, and customers may not have to pay any charges for transactions done through the popular NEFT system. A proposal in this regard has been mooted by the RBI to give impetus to digital transactions on the third anniversary of demonetisation. The central bank has also proposed that FASTags would be enabled […]

New Delhi: Amid rumours about demonetisation of Rs 2,000 banknotes, some companies have advised their cashiers to not accept the high-value pink notes from the customers. They have also directed their accountants to deposit cash balances of Rs 2,000 notes in banks. An internal advisory by a Karnataka-based logistics firm on the possible demonetisation has […]

Bhubaneswar: The recent seizure of fake Indian currency notes (FICN) with a face value of a whopping Rs 7.9 crore in Koraput district of Odisha has sent the police as well as public into tizzy. Why craze for fake notes? While the circulation of fake banknotes has now become a major concern, experts opine that […]