demonetisation

Count the cows & the cakes
of dung, lynch a few men
every time
you get their tally wrong.

  On August 30, 2017, the Reserve Bank of India released its Annual Report for 2016-17 which revealed that 98.8 percent of scrapped currency notes has come back into the Indian banking system. This mind-blowing statistics has put a serious question mark over the efficacy of demonetization move because it was anticipated by the government that a large portion of[Read More...]

I read this article with great interest. http://epaper.newindianexpress.com/c/21887818 The final sentence is salutary. I want to add that whether governments or judges guard or curtail rights will depend on what we, the people, do about it. Active citizenship is not something that we are used to. We are still used to being the ‘ruled’, looking up to our elected governments[Read More...]

Coming on the heels of the explosive RBI verdict on demonetization, the outrage over Lankesh’s murder is more than just whataboutery. It speaks volumes about the elite left liberal forces and their comfortable politics. I am not among those who say that we must wait till the police investigation is through before pronouncing who’s responsible. There are too any arrows[Read More...]

The RBI has come out with its Annual Report 2016-17. The report says that 98.96% of the demonetized notes have returned to the banking system. Of the 15.44 lakh crores worth of currency in circulation in the form of Rs. 500 and Rs. 1,000 notes, 15.28 lakh crores has returned back. This is in contrast to the argument put forth[Read More...]

  On 30 August the much awaited receipt figures of demonetized currency of Rs 500 and Rs 1000 denominations were released by the Reserve Bank of India (RBI) in its Annual Report. It said 15.28 lakh crores out of total 15.44 lakh crores, i.e., 99% of the demonetized currency notes of Rs. 1000 and Rs 500 were received back in[Read More...]

The cat is out of the bag. The data released by Reserve Bank of India (RBI) proves that as was predicted Narendra Modi’s demonetisation was a ‘monumental disaster’. The data shows that 99 % of the demonetised currencies returned to the system. Of the 15.44 lakh crore demonetised money, 15.28 lakh crore returned to the banks. A simple question rises,[Read More...]

A Parliamentary Committee on Demonetisation has submitted its report, which will be tabled during the Monsoon Session of Parliament. Accordingly, the report calls demonetisation a blunder. Not a single objective has been met, it reportedly says. Findings of the Committee reveal no major black money was found. It says Finance Ministry accepts that only details of 4,172 crores of suspicious[Read More...]

India commemorates the end of British rule 70 years ago on 15 August. Now might be an apt moment to consider where India might be heading, especially given recent developments. If one policy stands out over the past 12 months, it would have to be demonetisation. Removing all 500- and 1000-rupee notes from circulation overnight was in part a bail[Read More...]

Microsoft’s Bill Gates is one of the richest and most influential people on earth. He announced in 2015 that his Bill & Melinda Gates Foundation was aiming at achieving full digitalization of the payment systems of India and other populous developing countries by 2018. This “financial inclusion” program for India dates back to well before Narendra Modi came to power. It was elevated[Read More...]