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.
The facility to exchange or deposit Rs 2,000 banknotes will not be available on Monday, April 1, 2024 due to operations associated with the annual closing of accounts, the Reserve Bank of India (RBI) said on Friday. The facility will resume on Tuesday (April 2, 2024) at the 19 issue offices of the RBI, it added. "The facility of exchange/deposit of Rs 2,000 banknotes will not be available on Monday, April 1, 2024 at the 19 issue offices of the Reserve Bank of India due to operations associated with the annual closing of accounts," it said.
'Demonetisation will push India onto a higher growth path after a temporary dip.'
Despite the indisputable facts demonetisation and its pain is yet to have a quantifiable political backlash. But this is provided the government can limit the damage to the next one week.
With the reality of coalition politics staring the BJP in its face, this was inevitable, points out Ramesh Menon.
In refusing to accept its failure, the government has sowed the seeds of further damage: by keeping India short of cash; reducing the headroom for responses to seasonal spikes in cash demand; and increasing the chances that groups will panic at temporary cash shortages, says Mihir Sharma.
Note ban hits sales and registration of new cars; states work online payments model to deal with cash crunch. Ajay Modi and T E Narasimhan report.
Nirmala Sitharaman on Wednesday assumed charge as the Finance and Corporate Affairs Minister for the second consecutive term and is slated to soon present the final Budget for FY '25 that is going to set the tone for the Modi 3.0 government's priorities and direction for Viksit Bharat. Upon her reaching the North Block office, Sitharaman was greeted by Finance Secretary T V Somanathan and other top officials. Minister of State for Finance Pankaj Chaudhary was also present. Chaudhary assumed charge on Tuesday evening.
A fourth of the property market is cash-based and this has affected home sales after high value notes were scrapped.
'Till the time you have the equations right the market will remain concerned.' 'If the (coalition) government is taken care of, then probably (the markets will) come back to its rhythm.'
'GST had to come close on the heels of demonetisation as part of the same package.'
The two ministers were released from Parliament Street police station an hour later.
'The government's principal aim should be to reduce the volume of cash transactions.' 'That would bring more of the Indian economy within the purview of taxation.' 'The current downturn in economic activity due to a lack of adequate cash is likely to be limited to a year,'
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.
Politely decline to be prime minister, and hand the baton to someone else in the BJP -- like Sonia did to Manmohan Singh -- advises Krishna Prasad.
The Congress on Thursday accused the Modi government of aiding 'drain of wealth' from ordinary Indians to crony corporates, and said it will end this practice if it comes to power at the Centre.
Quoting Greek philosopher Socrates, Justice Bopanna emphasised that there are four qualities that are expected of a judge -- to hear courteously, to consider soberly, to answer wisely and to decide impartially.
He termed the Centre's decision to demonetise Rs 500 and Rs 1,000 notes as "surgical strike" on common man's "small savings" and not on "black marketeers".
Modi's demonetisation move has hit the real estate market in Delhi and Mumbai
Opposition parties forced early adjournments in both Houses of parliament as they continued to press for a debate on demonetisation under any rule that entailed voting, a demand that the government has refused to accept. Congress vice president Rahul Gandhi led a walkout by the Opposition over no obituary references being made for the seven Army personnel who lost their lives in the terror attack on an Army base in Nagrota, Jammu and Kashmir.
Significant portion of the funds used to fuel urban demand have become illegal and inoperative.
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.
Both Houses were adjourned multiple times as Opposition members kept on shouting slogans against the PM.
There was no let up in Opposition's protest over the demonetisation issue in the second week of the winter session of Parliament as parties insisted that no discussion on demonetisation would take place till the House mourns the nearly 70 deaths caused by hardships due to the withdrawal of higher denomination currency notes.
'Someone who cannot even take his cabinet into confidence, how will he take the NDA alliance into confidence?'
The opposition stated that BJP party members converted their black money by purchasing eight land parcels worth Rs 3.41 crore in Bihar in the run up to the notes ban.
One thing is certain: Demonetisation has broken the back of terror funding, says Colonel Anil A Athale.
The currency ban has changed the lives of the people facilitating this move across India.
'We feel EMI holidays should pick up now.' How travel companies are trying to win customers after demonetisation.
A bench comprising Chief Justice Dipak Misra and Justices A M Khanwilkar and D Y Chandrachud said the Constitution Bench would also deal with the individual plea of those who could not deposit their currency notes during the window period provided by the Reserve Bank of India.
"It is very dangerous in the 21st century to exclude people," said the Congress president.
In the wake of Centre's decision to demonetise currency notes of Rs 1,000 and Rs 500, the organisers of the Pune International Marathon (PIM) have postponed the run and has been rescheduled for January 2017.
In a scathing attack on Prime Minister Narendra Modi, former prime minister Manmohan Singh on Thursday accused him of lowering the dignity of public discourse and the gravity of the office of the PM by giving "hateful speeches" during the poll campaign.
The communication was clear, transparent and worded in a manner that did not induce any fear in the minds of the people, point out A K Bhattacharya.
Reserve Bank of India Governor Urjit Patel is learnt to have told the parliamentary panel on demonetisation that discussions between the central bank and the government on the process began early last year.
In an attempt to put an end to speculations surrounding its demonetisation decision, the Narendra Modi government has released a series of infographics.
There is no use of the BJP targeting the likes of Mamata Banerjee and M K Stalin, directly by the party's political bosses, both in Delhi and the respective state capitals, or even using the Raj Bhavans to fire those salvos from. Successive elections have proved that it's counter-productive, if anything. But the BJP is yet to understand it, acknowledge it, points out N Sathiya Moorthy.
As the government attempts to find a truce with a united opposition, which has disrupted both the Houses of Parliament since the beginning of the Winter Session, Prime Minister Narendra Modi is likely to participate in the discussion on demonetisation in Rajya Sabha.
'High denomination cash notes which was 1.4 lakh crores of Rs 500 and Rs 1,000 notes in 2004 became Rs 15.5 lakh crores in 2016.' 'If it had been allowed, by 2022, it would have been Rs 34 lakh crores, and that would have been the end of the Indian economy.' 'Demonetisation was a huge hit on the head of the economy, but without the hit, you could not U-turn the economy.'
© 2026 Rediff.com - Investor Information - Advertise with us - Disclaimer - Privacy Policy - Sitemap - Feedback - About us - Terms of use - Grievances