Page 27 - Demonetisation

Only 7% rise in transactions via cards after demonetisation: Govt officials

Digital transactions in all modes increased by 23% to 27.5 mn in May 2017 from 22.4 mn in Nov 2016

How did demonetisation help curb black money, lawmakers ask Home ministry

What has been the impact of demonetisation on generation of black money which was being used to fund terror, a parliamentary panel has asked the union home ministry.Rajiv Gauba, who will take over as home secretary in August, has been asked to submit the government's responses in writing in two weeks. According to sources, members of the parliamentary standing committee on finance wanted to know the impact of demonetization on curbing black money from the home ministry officials who briefed the lawmakers on the steps being taken to secure the digital economy.The issue came up as the government had defended the controversial demonetization decision by saying it was needed to curb black money which also helped fund terror attacks planned across the border.Gauba, who briefed the lawmakers, said that firewalls, software systems meant to prevent digital economy, are still evolving though several institutions have been set up by the government to protect financial sector and banking data ...

Lack of machines delayed counting of banned notes: RBI chief tells panel

Panel gives RBI Governor Urjit Patel 15 days to submit data on deposits of demonetised currency

Demonetisation has cost us a lot

It is time to take stock of what DeMo did not achieve, what it did and its continuing impact

Why cold, hard cash remains king

Love for paper money is simply stronger than the ease of credit cards and apps

Govt wants banks to deposit banned Rs 500, Rs 1000 notes at RBI by July 20

This is the second window the government has provided to banks, post offices and cooperative banks

Demonetisation led to 'material impact on spending', says Fitch

Domestic demand accounted for the bulk of the slowdown: Fitch

Continuing impact of demonetisation to cost MFIs dearly,says report

On November 8, 2016, Modi govt banned Rs 500, Rs 1,000 notes

Demonetisation for digitisation? Jaitley hails push to cashless economy

FM said the government was aware of the cash crunch but had envisaged long-term advantages

T N Ninan: Beyond the numbers

The govt should be using the time it still has to address the structural reform issues it has ducked these last three years

Note ban slowed down economy, took away jobs: Manmohan Singh at CWC meet

Former prime minister Manmohan Singh slammed PM Modi's controversial demonetisation last year saying the move had slowed down economic growth, which, in turn, had resulted in job loss.The former prime minister had earlier predicted that demonetisation would bring the country's GDP down by 2 percentage points. Speaking during a Congress Working Committee meeting, Singh said the Gross Value Added (GVA), a true sub-measure of economic activity, has experienced a steep and sustained fall citing GDP numbers for the fourth quarter and full year of 2016-17 released a few days ago by the CSO.Noting that private sector investment has collapsed and the economy was running on just one engine of public spending, the former prime minister pointed out that GVA growth of industry has fallen from 10.7 percent in March 2016 to just 3.8 percent in March 2017, a decline of nearly seven percentage points.According to Singh, a well-known economist, the most worrisome aspect of the economic slowdown was ...

Successful demonetisation will help to up revenues in long run: World Bank

World Bank report is of view that note ban has potential to accelerate formalisation of economy

Demonetisation was tough decision but people supported it, says Modi

Modi thanked the 1.25 crore people of country for standing by him in every decision

Operation Clean Money: War on black money is only half-won

Narendra Modi's measures to bring tax evaders to book has met with limited success

Urjit Patel to brief parliamentary panel on demonetisation on June 8

The Standing Committee on Finance had questioned Patel on January 18

Rs 1 crore in demonetised currency notes seized in Mumbai; 3 arrested

They found Rs 1 crore in old notes in Rs 500 and Rs 1,000 denominations

Demonetisation did not impede future black money flows in new notes: UN

Digital payments account for 20% of total transactions and 5% of personal consumption expenditure

Use cash gains from demonetisation to fund state banks: IMF

IMF said demonetisation would help secure some long-term gains

Cash-dependent finance firms may stay stressed

Analysts are turning cautious on NBFCs, particularly rural and cash-leaning entities

Is there cash in the ATM? 6 months later, India shakes off note-ban blues

However, despite govt's digital push, most people are back to transacting in cash