That title may seem a little incongruous at first, but once we see the effects of demonetisation – like demand contracting, much like in a recession – it is an easier concept to grasp. Though the symptoms of the two – recession and demonetisation – may be similar, the reasons differ. In a cash based […]
Why does the government continue to ignore the existence of the ‘third sex’ which now has a legal identity? On Thursday, the central government, in the form of a clarification, reminded people of the ceiling on gold they can legitimately hold without attracting a seizure and stringent tax. But in this exercise, a section of […]
Bihar Chief Minister Nitish Kumar has alleged that ‘some media houses’ were out to murder him politically. According to NDTV, Kumar told his legislators in Patna, “some media houses are out to murder me politically.” But is it a case of attempted hara-kiri? A section of the media had reported that the Bihar chief minister’s […]
The cash ban bans sporting? Demonetisation seems to have hit the sporting arena as well with the second edition of Pro Wrestling League being postponed from its original scheduled start of December 15 as the franchises and stakeholders need more time to re-plan and re-structure their schemes. “Post demonetisation, the PWL franchises and the stakeholders […]
Sir, Since the news of Demonetization of the Rs. 500 and Rs. 1,000 broke on the evening of 8th November 2016, the people of the country have become cashless. They have to struggle to manage every day as no one was taking the demonetized notes. This action has divided the nation into the supporters […]
Nepal Rastra Bank on Thursday (24 November) banned the use of India’s new currency notes of Rs 500 and Rs 2,000 denomination, terming them “unauthorised and illegal”. These two currency notes were issued by the Reserve Bank of India recently after old Rs 500 and Rs 1,000 denomination notes were withdrawn. Nepal Rastra Bank (NRB) […]
The Reserve Bank on Thursday (November 24)said massive accumulation of now invalid Rs 500/1000 notes at various banks and chests is putting strain on processing capacities and storage facilities, while reviving its ‘guarantee scheme’ to deal with the problem. The central bank said in view of the problem of mounting deposits it has decided to […]
Is Demonetisation a step in haste? Sir, There is no doubt that a solid step was needed to combat the problem of black money but it is also a fact that the major step was to be taken with considerable advance thinking with alternative arrangement to meet the monetary crisis faced by common people. As […]
Demonetisation has affected all of us very badly. In Patna, About 75% of ATMs are closed and the money finishes very fast in those that are open. At many places you see people standing in line from early morning before ATMs open up . No more 24 hour service! One of my relatives who is […]
India’s poor are paying the heaviest price for Prime Minister Narendra Modi’s ‘bold’ demonetization move. The current pain could eclipse long-term benefits and hurt the ruling Bharatiya Janata Party (BJP), some say. The November 8 ban on high-value currency notes has sent India’s economy into a tailspin. Citizens struggle to get their hands on new […]
Kerala: Go ahead, take whatever amount of cash you need. A rare display of Mercy by a Catholic Parish Priest. Story below: A catholic church in India made this public invitation on Sunday as it opened it donation boxes to needy people, Global Christian News reported. The surprising act of generosity has given hope and […]
New Delhi: Warning ! Those who are depositing their unaccounted old currency in someone else’s bank account! The tax department has decided to slap charges under the newly enforced Benami Transactions Act against violators! You may be penalized, prosecuted and ‘chalkki peeso’ in jail! And rigorous jail term of a maximum seven years. Official sources […]
