India’s central bank has formed a task force to deal with the issue of providing an exchange facility to people in Nepal who possess Indian currency notes of Rs 500 and Rs 1,000 denomination that were recently withdrawn. The decision has been communicated to the Nepali side, with the Nepal Rastra Bank (NRB) saying the […]
HATISOR VILLAGE, ASSAM: To overcome the cash crunch, people in this border village are using Bhutanese currency whose value has jumped as much as 25 per cent to match Indian currency. In the border area of Dadguri, Bhutanese currency is easily accepted as retailers and grocery shop owners get their stocks from Bhutan. “There is […]
How severely will demonetisation impact India’s agricultural supply chain and how badly will it dent farmer incomes? Taking a dig at the NDA government, Rahul Gandhi today asked the Centre if it will now call the Supreme Court “anti-national,” following the apex court’s remarks on the demonetisation move. “Will the government call the Supreme Court […]
Demonetization in India. It’s not just inconvenience, it’s drastic forced bankruptcy! Rural India is in turmoil while the chattering classes discuss whether or not there is a ‘chip’ in the new two-thousand rupee bank notes. According to a report from a village in Uttar Pradesh called Bulandshahr, Indian farmer Zakir Khan should be sowing his winter […]
New Delhi relaxed withdrawal limits at banks for marrying couples and farmers yesterday (November 17) amid growing frustration over a cash crisis triggered by Prime Minister Narendra Modi’s decision to demonetise all high-value notes. The rest of India will have to survive on Rs 2,000 withdrawal. However BBC reports indicate that most rural banks are […]
Thiruvananthapuram/Kochi: Mallus rock in more ways than one! From Kerala we have some news of a brilliant scheme by a young Malayali . Malayalis always tend to mark their presence. On November 9, when everyone was agonizing over the long queues at banks, while going through the demonetizing phase, a Malayali youth hailing from Ernakulam […]
The 500-1000 rupee demonetization drive has unearthed a lot of ‘hidden cash’ in ordinary homes, and some women are hopping mad about it. These ladies have been warming their little nest-eggs, saving up for a rainy day, and now many of them are truly exasperated that their ‘secret savings’ have to be revealed! Indu Mehra […]
They don’t call Calcutta the City of Joy for nothing! While the people in Patna cursed their luck for not having notes in smaller denominations and went without fish or meat, here’s what happened in Calcutta on Thursday: Fishmongers turned out to be the saviours of fish lovers on Thursday, accepting Rs 1,000 and Rs […]
Prime Minister Narendra Modi’s demonetisation move has an unexpected victim: the police department. Why? Because the police department literally has stacks and stacks of 500 and 1000 rupee notes in safes at their police stations. The ban on currency notes of Rs 500 and Rs 1,000 has left the police confused. What is to be […]
