'Even with the restrictions of depositing more than Rs 2.5 lakh in a bank, people will find new methods to convert this cash hoard into legal tender.'
'It is like bombing a building with 200 people to kill 5 terrorists.'
Another 8 pm prime ministerial speech. Will this one too lead to a scramble and chaos like his previous 8 pm telecasts?
How the demonetisation drives in India and Venezuela have played out.
'Is this the only way for India to become a $5 trillion economy?' 'When you have unused foreign exchange here, why borrow more dollars?'
Political compulsions have led to a change of narrative. But, in the ministry of finance, senior management ought to be looking at more serious issues than 'digitally cashless' India, says Rahul Khullar.
Invest in stocks of export-oriented and capital-intensive companies, says Devangshu Datta.
In Reserve Bank offices, 59 CVPS machines are used and each machine is operated by a set of five persons under a supervisor who supervises a cluster of machines
The Finance Ministry on Monday sought to assure the investors that the country's fundamentals are "very strong" even as the rupee slipped to below 63 to a US dollar and the BSE Sensex plunged by over 426 points on global cues, following currency crisis in Argentina.
Banks have reported that banknotes worth Rs 592,613 crore have been issued to the public.
Alibaba's pervasive economic and social influence in China is seen as a threat to the authority of the Chinese Communist party, notes Shyam Saran.
With extortion, robberies, fake currency and arms smuggling, the homegrown terror outfits may have raised Rs 200 crore.
'Like doctors, health workers, police, bankers are also COVID warriors,' notes Tamal Bandyopadhyay.
'The execution has been 100 per cent faulty.' 'The scheme is also a stupid one, a real Tuglaq Darbar scheme.' 'This way of attacking black money is the most ineffective one.'
'If development, investment, employment, implementation, credibility and commitment are ensured, security will automatically improve and subversive and militant elements will lose ground and be neutralised by the people themselves,' says B S Raghavan, the distinguished civil servant.
The industry was expecting to sell 3 million passenger vehicles for the first time in 2016-17, but now it seems a moot possibility.
'With 27 days to go, the total bank deposits has come tantalisingly close to the Rs 14 lakh crores of banned notes which was in the financial system on November 8.' 'Black money hoarders may have actually laundered their black money into white,' argues Rajeev Sharma.
Xi does not want to risk any political or economic crisis complicating his bid to remain in office, observes Ambassador Shyam Saran, the former foreign secretary.
Reserve Bank of India Deputy Governor Viral V Acharya further said that the impact of the notes ban would only be temporary and would help in bringing informal sector into the mainstream economy.
A year's print run has been shortened to 5 months.
From defending the shock announcement of demonetisation to spearheading the remonetisation drive that included the cumbersome process of printing and supplying new Rs 500 and Rs 2,000 notes, his calm composure brought a sense of serenity to an otherwise chaotic situation.
Amendments will be tabled in Parliament for approval by Monday or Tuesday.
According to the NIPFP, there is the possibility that even if the banking system matures over time, some transactions could bypass the system so as not to pay the BTT.
It's five months after 8/11. But this is not the first time that India's currency of the time faced the axe. The Mughals, after invading a territory, would effect the demonetisation of the local currency with the aim to cripple the economy of the land.
If there is a morality tale here, it is that debt and death spare no king.
Jaitley said future transactions would be substantially digital as India moves towards a less-cash society
'By demonetising higher denominations of currency notes, we have taken out the vehicle for corruption.' 'But the motive is still there.'
'India is still a cash economy.' 'For a common household, almost everything from grocery to maid services is paid in cash.' 'The demonetised notes account for 85 per cent of the currency in circulation.' 'Until fresh notes flow back into the economy, day-to-day transactions ordinarily done in cash will be impacted.'
The prime minister was speaking at an industry meet organised at ONGC Petro Additions Ltd's complex in Gujarat's Dahej.
Prof Ananth Narayan, well known financial expert who works as a faculty member at the SP Jain Institute of Management and Research and the RBI's nominee director on the board of Yes Bank, expects a double-digit contraction in India's GDP this fiscal year. In the first of a two-part interview to Shobha Warrier/Rediff.com, Prof Narayan, below, says, "Giving liquidity and loan to cover the cash flow problem is not sufficient because you are essentially increasing the debt of many of these companies. And they might not be able to bear the burden."
A task force will speed up the recalibration of 200,000 ATMs so these can dispense the new Rs 2,000 notes.
The finance ministry and the RBI have performed many somersaults in these last 42 days.
RBI might not cut rate on June 2 but will surely cut soon.
Eco affairs secretary says double counting possible; cash availability to improve in three weeks.
The crux of the problem is change, specifically the Rs 500 note, which India's presses cannot, currently, print in adequate number, says Sahil Kini/IndiaSpend.
Going ahead, the likely implementation of the goods and services tax bill in July and how the monsoons play out will have a bearing on India's demand for gold and gold jewellery
The US-based agency, however, termed the 7 per cent GDP growth for the October-December quarter as "surprising", a tad lower than 7.4 per cent in the previous quarter.
