It was Pune resident Anil Bokil and his think-tank –ArthaKranti Pratishthan — who held a nine-minute meeting with Prime Minister Narendra Modi in July, which stretched to two hours, inspiring the demonetisation move. However, 3 months on, Bokil has blamed the mess on the government using his advice “selectively”. He[Read More…]
Tag: Demonetisation
Demonetisation chaos: Bank officers union calls for Urjit Patel’s resignation
D Thomas Franco, senior vice president of the All India Bank Officers Confederation, has called for the resignation of Reserve Bank of India governor Urjit Patel. He said that Urjit Patel should take the moral responsibility of the havoc created in country due to unplanned decision of demonetisation, which resulted[Read More…]
Paytm reaches seven million daily transactions
With people being reluctant to shell out the cash they stood hours in line for, digital payments company Paytm said on Monday it witnessed over seven million transactions worth Rs 120 crore on Saturday. Paytm has crossed $5 billion GMV sales, four months ahead of its target, reports PTI. Gross[Read More…]
Farmers can now use old ₹500 notes to buy seeds
The government on Monday allowed farmers to purchase seeds with the old ₹500 bank notes, declared illegal less than two weeks ago by Prime Minister Narendra Modi. The new rule allows farmers to purchase seeds with old denomination bank notes of ₹ 500 from outlets belonging to the central or[Read More…]
Opposing demonetisation against country’s interest, says Fadnavis
Maharashtra Chief Minister, Devendra Fadnavis has said those opposing Prime Minister Narendra Modi on demonetisation were harming the country and people should come together to “win this decisive battle against black money”. “We are going towards a new economic independence. In this battle for economic independence, the person who stands[Read More…]
Demonetisation: Time to transport cash to banks cut from 21 to 6 days
In a bid to ease the cash crunch chaos, the government has managed to cut down the transportation time of cash from printing to the main distribution centres from 21 days to six and is using all modes of transport, including helicopters and Indian Air Force planes, to move the[Read More…]
Uncritical compliance isn’t a desirable trait
It is disturbing to see how readily people comply with whatever it is the State has to order. And when I speak of compliance, it is not that there be an attempt to scuttle every move, but that there at least be made some critical evaluation of an order/ regulation.[Read More…]
Demonetisation : Infant dies after hospital allegedly refuses to accept old currency notes
A couple has alleged that their two-day old baby daughter died on Sunday after Ruby Hall Clinic in Pune allegedly refused treatment over the issue of payment in demonetised currencies. However, Ruby Hall Clinic, the hospital where the child was referred to be admitted for a heart surgery, refuted the[Read More…]
Civilians assist policemen in managing queues at banks, ATMs in Delhi
More than 250 civilians have been assisting police personnel in southwestern range in managing long queues outside banks and ATMs as part of the ‘Police Mitra’ initiative by Delhi Police, which will be formally launched on Saturday. In the southwestern range, comprising west and southwest districts, 294 civilians, including 49[Read More…]
Note exchange on Sat only for senior citizens
Only senior citizens will be allowed to exchange old notes for new ones on Saturday in banks. Moreover, on Sunday, banks will remain shut. “Across the country, there is visibly less rush,” said Rajiv Rishi, the head of the Indian Bank Association, adding that Saturday will be used to clear[Read More…]
Demonetisation: Around 700 petrol pumps start dispensing cash
Nearly 700 petrol pumps across the country on Friday started dispensing cash through debit card swipe in a bid to ease the cash crunch in the economy following the government’s decision to withdraw ₹1,000 and ₹500 notes. The facility to provide ₹2,000 per day per card will be extended to[Read More…]
Kerala CM, ministers, Yechury protest outside RBI against demonetisation
Kerala Chief Minister Pinarayi Vijayan led a protest outside the RBI office on Friday along with 17 cabinet ministers and party leader Sitaram Yechury. They said that the move by RBI not to allow these banks to accept deposit or change the existing notes is destroying the co-operative sector. After[Read More…]
Accept cheques, DDs and online payments: Delhi govt to private hospitals
Taking note of problems faced by Delhi citizens, the AAP government has issued strict directions to all private hospitals to accept cheques, demand drafts and online payments from patients. A circular regarding the same has been issued, after complaints were received that some hospitals were not accepting cheques and demand[Read More…]
This is very serious, there may be riots: Supreme Court on demonetisation
Supreme Court on Friday refused the government’s plea to stay cases filed against the demonetisation move in High Courts and lower courts across the country. The top court warned that people are suffering and there may be riots. “How can we shut our doors to people when there is a[Read More…]
Demonetisation: 2500 petrol pumps to dispense cash upto Rs 2000 from today
In the wake of cash crunch, Centre on Thursday allowed dispensing of cash up to Rs 2000 through debit card swipe at petrol pumps run by state-run oil companies. The facility will be initially available at 2,500 petrol pumps across the country that has SBI card swipe machines. “It has[Read More…]
No move to seal bank lockers, confiscate jewellery: Finance Ministry
The Finance Ministry on Friday said there was no move to seal bank lockers nor was it true that the ink of the new ₹2,000 notes has been bleeding in some cases. “Myth: Next move is to seal bank lockers and confiscate gold, diamonds and jewellery. Reality: This is baseless.[Read More…]
Sad that FM refused to consider demonetisation rollback: Kejriwal
Delhi Chief Minister Arvind Kejriwal on Friday expressed disappointment over Central government’s decision not to roll back the demonetisation move. He added that this showed it has lost its connect with the people. “I am very sad that FM (Finance Minister) has plainly refused to even review and consider rollback.[Read More…]
Adani, Ambani knew of demonetisation, says BJP MLA Bhawani Singh Rajawat
BJP MLA from Ladpura in Rajasthan’s Kota district Bhawani Singh Rajawat has purportedly claimed that Ambani and Adani had prior knowledge of the demonetisation of ₹500 and ₹1,000, as shown in a video released online. “Adani, Ambani atram-satram in sab ko pehle hi pata thha. Inko hint de diya gaya.[Read More…]
Demonetisation drive well-planned and executed, no question of rollback: Jaitley
Putting all speculations to rest, Union Finance Minister Arun Jaitley on Thursday ruled out roll-back of the demonetisation move that came into effect last week. In an interview, Arun Jaitley said there was no shortage of currency in the country to deal with the millions lined up outside banks and[Read More…]
Bank gives UP woman Rs 2000 in one rupee coins, the bag weighs 17 kg!
A bank in Mohanlalganj, 25 km from Lucknow, handed over a bag packed with one rupee coins against Rs 2000 (in old denomination) to a 60 year old lady. After standing in the queue for long hours, Sarju Devi handed over the 2000 rupee to the cashier. The cashier returned[Read More…]
Demonetisation: Bengaluru Police detains Occupy RBI protestors
Over 30 activists, who organized occupy RBI protest in Bangalore against the demonetisation move, were detained by Bengaluru Police on Thursday. Activists from various organizations including CPI (ML) Liberation, AICCTU, New Socialist Alternative/ Peoples’ Solidarity Concerns, Social Democratic Party of India, Street Hawkers Association and Karnataka Tamil Makkal Aaikyam were[Read More…]
Mamata Banerjee, Arvind Kejriwal set 3-day deadline on notes ban
Arvind Kejriwal and Mamata Banerjee made a scathing attack on the government on Thursday warning that there will be intense protests and unrest if it does not withdraw its ban on ₹500 and ₹1000 rupee notes. They also visited the Reserve Bank of India to check on the progress of[Read More…]
Demonetisation: 5 children among dead as toll rises to 47
The death toll of people after PM Narendra Modi’s announcement of demonetisation has reached 47. Citizens across the country have been inconvenienced since the announcement. Most of the people died waiting in the serpentine queue before ATMs/ banks for hours. 12 people collapsed to death mainly due to suffocation. 10[Read More…]
Central govt staff up to Group C allowed ₹10k advance salary
The government on Thursday announced that the central government employees up to Group ‘C’ now can draw salary advance up to ₹10,000 in cash that’ll be adjusted against their November salaries. Economic Affairs Secretary Shaktikanta Das said Finance Minister Arun Jaitley in his Budget speech stated that interim provisions have[Read More…]
‘Indelible ink removal’ trends on Google
Following the government’s decision to mark bank users’ fingers using hard-to-remove ink to stop multiple visits to exchange currency, ‘Indelible ink removal’ was trending on Google. With motive to reduce the crowd at banks to exchange the demonetization, the Economic affairs secretary Shaktikanta Das, on Nov 15, said banks will[Read More…]