India is bracing for a second currency note exchange program in less than 7 years, pulling its Rs 2,000 note out of circulation in an exercise that comes ahead of a series of crucial state polls.
RBI has asked banks to stop issuing Rs 2,000 notes, though it remains legal tender. Parties like AAP, TMC & BSP have criticised the move, saying it is against public interest.
RBI data shows the high-denomination note, meant to have safeguards against counterfeiting, was counterfeited. Brought in as part of anti-black money measure, it's now 'used to hoard cash'.
India has done great in regulation because it took time to think things through. The US banking crisis should encourage Modi govt to avoid rush jobs like demonetisation.
It is now clear that the 2016 demonetisation was more an avoidance of representatives and creation of a fig leaf of legitimacy by exerting pressure on the RBI.
The nuances of demonetisation, the amount of hard work put in and the course corrections done during the implementation are known only to the govt. It's time to tell Indians about it.
Perhaps the present crisis and trauma can force our country into something resembling that special moment we found in the sixties. Perhaps we can radically alter our business environment.
India’s industrial output growth saw a 10-month low in June, with Index of Industrial Production (IIP) growing by mere 1.5% as against 1.9% in May 2025.
Standing up to America is usually not a personal risk for a leader in India. Any suggestions of foreign pressure unites India behind who they see as leading them in that fight.
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