DEMONETISATION
Rahul Gandhi's 'not Hindus' jibe riles BJP; LoP raises paper leak, Agnipath, Manipur in Lok Sabha
Leader of Opposition Rahul Gandhi criticised the BJP government in Lok Sabha for promoting hatred and violence through policies like Agnipath, demonetisation, and the repealed farm laws, as well as mishandling the Manipur violence issue. In a 100-minute speech, Gandhi accused the BJP and RSS of spreading violence and hatred, emphasising the principles of non-violence in Indian philosophy. He also raised concerns about the NEET paper leak and the government's refusal to discuss the issue.
Minorities make country proud, they are patriots, but BJP spreads hatred against them: Rahul Gandhi
Rahul Gandhi, the Leader of Opposition (LoP) in Lok Sabha, accused the ruling Bharatiya Janata Party (BJP) of spreading violence and hatred against minorities, Muslims, Sikhs, and Christians. In his maiden speech as LoP, Gandhi alleged that the BJP was spreading fear among every section of society and that small and medium businesses, which are the backbone of India's employment, have been blown away by a flawed GST and demonetisation.
Rs 2000 notes: 97.87% returned; Rs 7,581 crore worth notes still with public
The total value of Rs 2000 banknotes in circulation, which was Rs 3.56 lakh crore at the close of business on May 19, 2023, has declined to Rs 7,581 crore at the close of business on June 28, 2024.
You keep digging into past to hide your shortcomings: Mallikarjun Kharge attacks PM Modi
Congress President Mallikarjun Kharge criticised Prime Minister Narendra Modi for focusing on the past to conceal his failings, accusing him of creating an "undeclared emergency" that has harmed democracy. Kharge condemned Modi's actions, citing instances of undermining opposition, passing laws without consensus, and disregarding democratic processes. He emphasised Congress' commitment to upholding democracy and the Constitution in the face of what he perceives as BJP's erosion of democratic principles.
NEET Scam: 'Demonetisation' in education sector as 'organisations' have taken over, Rahul Gandhi takes a dig at Modi
Congress MP Rahul Gandhi criticised PM Narendra Modi for not stopping paper leaks in India, citing the capture of the education system by the BJP's parent organization. Gandhi argued that Modi's actions have facilitated these leaks, claiming they are an anti-national activity and will continue until the issue is resolved.
Nirmala Sitharaman assumes charge of Finance Ministry, to ensure 'ease of living'
Nirmala Sitharaman took charge of Finance Ministry for her second consecutive term and isset to present FY '25 Budget defining Modi 3.0 government's priorities. She was greeted by officials upon reaching office. Her previous tasks included base corporate tax cut, managing economy during Covid-19, and fiscal consolidation. Sitharaman, born in Madurai, pursued economics before entering politics.
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Will they suspend over 230 MPs this time: Gaurav Gogoi's dig at Modi 3.0
The BJP's parliamentary democracy approach remains unchanged under PM Narendra Modi, with Congress' Gaurav Gogoi noting a stronger "wall of defenders" due to over 230 INDIA bloc MPs. Gogoi predicts NDA government won't last full term, citing Modi's leadership style. He highlights increased opposition strength in Parliament and criticizes BJP's tactics.
Nirmala Sitharaman: Feisty defender of Modi govt to filling big shoes
As a staunch defender of the Modi government's economic policies and executor, Nirmala Sitharaman created a record when she was appointed as the first female Raksha Mantri, or Defence Minister, in 2017. Prior to that, she was industry and commerce minister.
Tharoor bats for Rahul as LoP, says he was 'man of match' of LS polls
Shashi Tharoor praises Rahul Gandhi's performance in the Lok Sabha polls and advocates for his role as Leader of Opposition. Tharoor critiques the Modi government's approach to governance and emphasizes the importance of a strong opposition with over 230 MPs. He reflects on the challenges and victories in the elections, highlighting the shift towards a coalition government model.
Modi is first PM to lower dignity of public discourse, he indulged in most vicious form of hate speeches: Manmohan Singh to voters
In anticipation of Punjab's voting in the final phase of the 18th Lok Sabha polls on June 1st, former Prime Minister Manmohan Singh penned a letter directed to the state's voters. In the letter, Singh expressed concerns regarding the divisive nature of the hate speeches delivered by Prime Minister Narendra Modi, labeling them as the epitome of divisiveness.
New PoS deployment grows at slowest pace since demonetisation: RBI data
Industry insiders told us that while new PoS terminals are still being deployed, it’s mostly in organised and large format retail, which offer all payment forms. However, grocery shops, smaller stores and eateries are tilting towards QR code-based UPI transactions.
Narendra Modi govt 'anti-MSME', thousands of small business shut down in 10 years: Congress
Congress alleges Modi govt is 'anti-MSME', leading to small businesses shutting down. Ramesh criticizes policies favoring big corporates, demonetisation, GST issues, Chinese goods dumping, and MSME board control. MSME sector suffers under Modi's governance.
India's transaction trends: ePayment riches leave circulation of currency poorer
India's transition to digital payments is effectively curbing the traditional outflow of currency from its banking system, as evidenced by the sharpest decline in the growth of currency in circulation (CIC) since demonetisation in FY24. The Reserve Bank of India's (RBI) decision to phase out Rs 2,000 banknotes from circulation last year further contributed to this trend.
Cash in circulation more than doubles since FY17 on consumption demand
The currency in circulation has more than doubled from Rs 13.35 lakh crore in March 2017 to Rs 35.15 lakh crore in end March 2024. Significantly the currency in circulation has happened despite the central bank deciding to withdraw the Rs 2000 denomination banknotes from circulation from May 2023 which resulted in the central bank getting 97.83 percent of Rs 3.56 lakh crore worth notes back to the banking system.
Triple blow of demonetisation, GST, unplanned Covid lockdowns decimated MSMEs in TN: Congress
Congress general secretary Jairam Ramesh said that before the BJP came to power, Tamil Nadu boasted a thriving ecosystem of more than 10 lakh Micro, Small, and Medium Enterprises (MSMEs), more than any other state.
Demonetisation, electoral bonds examples of BJP's corruption: Yashwant Sinha
Yashwant Sinha, 86, said he has retired from politics and is not planning a return, even as several people from his former constituency Hazaribagh urged him to fight the election this time.
RBI at 90: India's central bank must do better on supervisory front to not sully its track record
Reflecting on the 90-year journey of India's RBI, from political shifts to economic reforms, and its pivotal role in financial evolution. While successes in monetary policy stand out, challenges in bank supervision remain. Urgent reforms are needed for a resilient future.
Governor post 'serious', must act under Constitution: Justice B V Nagarathna
In her keynote address at the inaugural session of the fifth edition of Courts and the Constitution Conference, held at the NALSAR University of Law here on Saturday, Justice Nagarathna spoke about the Maharashtra Legislative Assembly case as another instance of gubernatorial overreach, where the governor lacked sufficient material to declare the floor test.
RBI announces temporary halt to Rs 2,000 banknote exchange/deposit on April 1
The Reserve Bank of India (RBI) has announced that 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. This facility will resume on Tuesday, April 2, 2024, at the 19 issue offices of the RBI. The RBI had previously announced the withdrawal of Rs 2,000 denomination banknotes from circulation on May 19, 2023.
RBI says more than 97% of 2,000-rupee notes returned since May 2023
Over 97% of India's 2,000-rupee currency notes, withdrawn in May 2023, have been returned. The total value of banknotes in circulation reduced to 8,470 crore rupees. The return rate is modest compared to the previous report. The 2,000-rupee note remains legally valid tender.
The ten big policy plays: Key economic initiatives India has seen under Modi from 2014 to 2024
Over the last decade, India has witnessed significant economic initiatives like the Goods and Services Tax, bankruptcy code, and PM-Kisan. This period also saw substantial social interventions, starting with the 2014 financial inclusion drive under the NDA government.
Demonetisation in cash-strapped Pakistan? State Bank of Pakistan to release new notes
Certain financial analysts are contemplating the potential integration of demonetization for higher-value notes, like the Rs 5,000, as a component of this effort to reduce the spread of counterfeit currency and tackle concerns associated with the black money market.Emphasizing the repercussions of illicit black money on Pakistan's economy, experts suggest that the circulation of larger denomination notes exacerbates the issue.
Demonetisation moment for crypto exchanges? What does it mean for you?
Is this the crypto 'demonetisation' moment? The Financial Intelligence Unit’s (FIU) notice to offshore exchanges might signal a shift. Asset safety concerns drive a market shift, posing risks for non-compliant exchanges.
Demonetisation 'biggest corruption' in world: Akhilesh Yadav
Speaking to reporters at the party office in Lucknow, Yadav said, "Demonetisation done by the BJP government (in 2016) is the biggest corruption in the world. To compensate for the fraud and loss of Rs 15 lakh crore in the country, this government (of the BJP) had taken the decision of demonetisation as a well thought out strategy."
Demo wrecked economy, says Congress
On November 8, 2016, Prime Minister Narendra Modi announced scrapping of ₹500 and ₹1,000 notes.
Cash component in realty deals rising, reveals demonetisation anniversary eve survey
All cheque payments are "more an exception" as citizens surveyed revealed that only select builders selling flats and villas in large developments demand all cheque payments for the transaction. "... the norm in property transactions is use of cash and all cheque payments are more an exception," it said.
As nation marks 'obituary' of 2000-rupee note, let it be a reminder of 'monumental disaster' that demonetisation was: Congress
The Congress' attack came as the Reserve Bank of India's special drive to withdraw Rs 2,000 bank notes from the system ended Saturday. In a post on X, Congress general secretary Jairam Ramesh said, "As the nation marks the obituary of the 2000 rupee note, let it be a reminder of the monumental disaster that was the Tughlakian decision of November 8, 2016."
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