Keyword : Currency

The new digital blueprint for social change

There’s something big afoot in the Bitcoin world. It’s important enough for the smooth and ruthless sharks of Wall Street to take notice and turn uneasy. Bitcoins have always been treat

ATMs to dispense new notes after 2-3 weeks: Jaitley

 It will take another two to three weeks for ATMs to get recalibrated in order to dispense new currency notes of Rs 500 and 2,000 denominations, said finance minister Arun Jaitley on Saturday.

Purple is the new black

The man standing in front of me shifted his weight from his left leg to the right leg. A minute later he gazed forlornly at the serpentine queue outside the ATM, adjusted his spectacles and shifted

Black money debate in black and white, with a touch of saffron

“It’s a war; it’s a mahayajnya. You have to decide on whose side you are.” -- M Venkaiah Naidu, in parliament on November 17   In

What foreign media says about Modi and demonetisation

While the nation struggles to adapt to changes since demonetisation, foreign media has been widely covering the Narendra Modi government’s move and the public’s response.

While we stand in queues, world learns free lessons

By far the most sweeping change in currency policy that has occurred anywhere in the world in decades: that’s what former US treasury secretary and Harvard economist Lawrence H Summers along

Thursday is last day to exchange old notes at public utilities

After prime minister Narendra Modi announced demonetization on November 8, people were allowed to use the old currency notes at government hospitals, railway ticketing, public transport, airline ti

Mobile ATM: When joy knew no bounds

Someone breathlessly said: “Mobile ATM has come. Mobile ATM has come.” The message had an electrifying effect on the employees. Amid whoops of joy, they promptly went scurrying out of t

BJP’s a/c declaration is utterly non sequitur

Prime minister Narendra Modi has asked all MPs and MLAs of his party to come clean, and declare their bank transaction details to the party chief. Somewhat like demonetisation itself, it is pointle

People are adapting faster than we had thought: Nirmala Sitharaman

As part of the government, how do you look at demonetisation? It’s by far the bold… the boldest of all the steps, in line with several other steps the g

Currency change: “Long-run gains depend on implementation”

Like many of us in India, Kenneth Rogoff, a Harvard professor and former chief economist at IMF, backs the logic behind India’s demonetisation and balks at its implementation.

Procedural changes from 1978 may have created huge loopholes

On November 8, the Government of India announced its decision to pull high-value currency notes of Rs. 500 and Rs. 1,000 denomination out of circulation, with immediate effect. A detailed procedure

“What is the logic of demonetising Rs 500-1,000 notes and then printing Rs 2,000 note?”

How do you see demonetisation as a way of curbing black economy? Demonetisation is not the way to tackle black economy. The reason is that the black money is in circulation

Exchanging notes

Reasons given for demonetisation   To control counterfeit notes that could contribute to terrorism To undermine or eliminate black econom

Cash Line: Demonetisation woes in Manipur

Demonetisation has been testing the patience of the public across the country. Imphal, the capital of Manipur, is no exception.   

Demonetisation is a regressive and anti-poor measure: KC Chakrabarty

Dr KC Chakrabarty, former deputy governor, Reserve Bank of India, headed currency management at the central bank before taking premature retirement in March 2014. Known for his frank an

Demonetisation: Revised income tax returns may be scrutinised

If you are planning to file a revised income tax return following demonetisation, then be warned. The income tax department will be looking out for manipulation or fudging and such cases may be tak

Steps have been taken to tackle black money: Amitabh Kant

The government has initiated numerous steps to combat the scourge of corruption and black money in the last two and a half years, said NITI Aayog CEO Amitabh Kant on Thursday. Addres

Demonetisation severely imperilled India’s economy: Harvard Business Review

India is in the throes of an unprecedented social experiment in enforced digital disruption, and the world has much to learn from it, said an article: ‘India’s Botched War on Ca

Two counts of failure

The Indian government has audaciously put the demonetisation show on the road, though with little consideration of infrastructural, banking and connectivity back-up. After making his own set of pol

Hulkonomics and the 2D effect (Or how I learned to stop worrying and love demonetisation)

A close friend, stock market wizard and intellectual sparring partner, also a Marvel Comics and Stan Lee fan, has been keenly following the demonetisation debate in media and elsewhere. &ld

Demonetisation: Rule changed yet again

One thing consistent about demonetisation has been the ever-changing rules. Monday saw a new rule in place. One can now deposit the scrapped currency of Rs 500 and Rs 1,000

Demonetisation impact on formal remittances could be significant: Expert

The longer run impact of demonetisation on formal domestic remittances could be significant. Following up on a major financial inclusion initiative (Jan Dhan Yojana) and new payments banks, this mo

Currency in circulation plunged by Rs 7.4 trillion up to December 2: RBI

Liquidity conditions have undergone large shifts in Q3 so far, said the Reserve Bank of India which added that surplus conditions in October and early November were overwhelmed by the impac

Demonetisation hits handicraft business at Rann Utsav

Mangal Bhai Rama Harijan is a craftsman from Kawada village, 50 kilometres from the Great Rann of Kutch in Gujarat, the place where India’s most prominent cultural festival takes place every

Govt must not renege on the commitment made on November 8

People may recall the passionate justification that prime minister gave on November 8 when he announced the decision to demonetise currency notes of Rs 500 and Rs 1,000 denomination. The entire cou

People will now use Rs 2,000 notes to store wealth: Fitch

There are considerable uncertainties over the potential positive effects of demonetisation, said global ratings agency Fitch. “Most importantly, demonetisation is a one-off event. People th

DeMo can’t fight black money: Leading business body

  If fighting black money is the aim, demonetisation is the wrong weapon, says India’s largest and oldest business body.    “Demonetisat

Countries are printing more and more of currency: RBI deputy governor

     “As regards death of currency, it is not a new subject. It has been predicted right from early 1950s,” said R Gandhi, deputy governor Reser

India may soon have plastic banknotes

It has been decided to conduct a field trial with plastic banknotes at five locations of the country, said Arjun Ram Meghwal, minister of state in the finance ministry in the Lok Sabha.

Almost 99 percent of demonetised currency is back: RBI

As much as Rs 15.28 lakh crore out of Rs 15.44 lakh crore of the scrapped currency has come back, the Reserve Bank of India said on Wednesday. RBI released its annual report 2017 whic

RBI keeps repo rate unchanged at 6 percent

 The Reserve Bank of India (RBI) on Wednesday the policy repo rate under the liquidity adjustment facility (LAF) unchanged at 6.0 per cent.

Dry ATMs: Rahul takes a dig at govt

As media reports spoke of ATMs across the country going dry, Congress leader Rahul Gandhi took a dig at the government even as the finance ministry reviewed the situation and blamed it on “un



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