Here's the full text of Prime Minister Narendra Modi's address to the nation where he announced the demonetisation of Rs 1,000 and Rs 500 notes with effect from midnight on November 8-9.
The longer it takes for RBI and the government to stabilise monetary conditions in the economy, the more severe and long lasting will be the damage caused to various sectors of the economy, especially to the informal sector, says Rajeswari Sengupta. Rajeswari Sengupta discusses the impact of this move on money supply, output and prices, in the short- and medium-term.
Declaring demonetisation a complete failure may turn out to be hasty, argues economist Ashok K Lahiri.
Unfazed by the absence of leaders of the Left, the Janata Dal-United, the Samajwadi Party and the Bahujan Samaj Party, Congress leader Rahul Gandhi and Trinamool Congress chief Mamata Banerjee along with some regional parties on Tuesday sought to put up a united face raising the pitch against demonetisation by demanding the resignation of Prime Minister Narendra Modi.
Well then, what did DeMo achieve? As predicted by most economists, the volume of transactions fell, economic activity was adversely impacted, and some sectors (which were more dependent on cash transactions) witnessed greater disruption than others, says Rahul Khullar.
'We expect growth to increase in 2017, after this brief period associated with the change in notes.'
Here's what Headley told the court on Thursday:
'It won't be easy to undo the damage that has been done to the economy by the lockdown and the solution will not come from two minute presentations,' observes Aakar Patel.
Any forced attempt to achieve anything, however lofty the goal, will result in distortions and undesired outcomes, say Anshuman Gupta and Karunakar Jha.
Government will probe the findings in a book on the 26/11 Mumbai terror attacks which claims that a "super- agent" code-named 'Honey Bee' in the Indian establishment had helped Pakistan's ISI in identifying the landing site for the terrorists.
'By demonetising higher denominations of currency notes, we have taken out the vehicle for corruption.' 'But the motive is still there.'
In an online chat with readers, Investment Advisor Harsh Roongta answered their queries on the ban on Rs 500 and Rs 1000 notes.
'During the transition process, we have some control over the withdrawals.' 'In terms of your wealth, the money in your deposit account is where it is.'
SBI plunged over 3% after posting a 34.57% fall in net profit to Rs 2,538 crore for the quarter ended September 2016 on rise in provisions for non-performing loans.
The patience, discipline, and resolve displayed by 125 crore Indians, will play a critical role in shaping the future of the nation for years to come, the PM said.
'My party men discouraged me from visiting Kaliachak because all kind of people were part of the mob and they feared that someone could shoot at me.' 'Criminals were involved in burning the police station and then attacking Baliadanga to give it a communal colour.'
'Our first great challenge is to create 12 million new jobs each year, to make the demographic dividend an economic dividend.' 'We are nowhere near that,' points out Mohan Guruswamy.
Modi took on the opposition parties, especially the Congress, saying it is the corrupt who are sleepless now.
Shah claimed that BJP was sensitive to the problems being faced by people queuing up outside the banks and ATMs but said they must realise that the step had hurt 'those sleeping over hoards of black money three thousand times more than the people on the streets'.
RBI Governor Raghuram Rajan, who today surprised markets with a rate hike, defended the move saying a rate cut would not have impacted either banks or borrowers and that bringing down retail prices is the key to sustainable growth.
Pakistani-American terrorist David Coleman Headley on Thursday exposed how Inter-Services Intelligence and Lashkar-e-Tayiba majorly funded terror operations in India.
The government on Monday proposed income tax benefits for people making payments through credit or debit cards and doing away with transaction charges on purchase of petrol, gas and rail tickets with plastic money.
In the fourth of a six-part series Sahil Makkar finds out how badly Jalandhar's sports goods industry was hit by the note ban and the price it continues to pay.
Attacking the note ban move, Yechury said the PM's assertion that it will impact terror funding has not yielded any result.
Minister for External Affairs Salman Khurshid speaks about the importance of the fourth edition of the India-US Strategic Dialogue, which he co-chaired with United States Secretary of State John Kerry in New Delhi
Of the over five lakh responses, only two per cent rated demonetisation as a 'very poor' move by the government.
'India can replicate what Pakistan did to Kulbhushan Jadhav should the need arise.' 'Hopefully, Pakistan will see reason before that transpires,' says Ambassador G Parthasarathy, former high commissioner to Pakistan.
I-T lens on current account deposits over Rs 12.5 lakh. All the news and more post demonetisation.
'Counter terrorism does not appear to be good guys fighting the bad ones; it is about people being picked up, detained and charged with crimes they did not commit.'
'Make cash available now, don't put people into suffering.' 'You should not come to a situation where the operation was successful and the patient is dying.' 'What did not happen in India for several years, you cannot do in 50 days.' 'This is agony and pain.'
Moving ahead with their new mantra -- Chalein Saath Saath: Forward Together We Go -- Prime Minister Narendra Modi and United States President Barack Obama on Tuesday vowed to deepen cooperation in every sector for the benefit of global stability and people's livelihoods over the next ten years.
The blockchain, the public ledger that tracks every bitcoin transaction, is changing commerce as we know it, says Devangshu Datta.
'After Rajan is back in India, our resident dons are almost down. I won't say that they are out. So, now the obvious question is about Dawood, and the present government, I think, is more than willing to address that issue.' 'I think the political system made this kind of people; the corporate world made this kind of people. I have mentioned in my book that even the banks were using these outlaws to get their money back.'
© 2026 Rediff.com - Investor Information - Advertise with us - Disclaimer - Privacy Policy - Sitemap - Feedback - About us - Terms of use - Grievances