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.
Section 26(2) of Reserve Bank of India Act allows central govt to declare any series of bank notes of any denomination illegal tender after a recommendation from central board of RBI.
The government's order was being declared unlawful “only on a purely legalistic analysis of the relevant provisions of the Act and not on the objects of demonetisation”, she says.
An SC bench upholds Modi govt's 2016 decision to ban Rs 500 & Rs 1,000 currency notes with 4:1 majority. Says demonetisation notification passed test or doctrine of 'proportionality'.
Since 1979, Iran has used the Palestinian issue as a façade for its regional agenda to oppose American diplomacy, the Western world, and the existence of Israel.
In Episode 1544 of CutTheClutter, Editor-in-Chief Shekhar Gupta looks at some top economists pointing to the pitfalls of ‘currency nationalism’ with data from 1991 to 2004.
The decorated Naga officer from Manipur also served as envoy to Myanmar & Nagaland chief secy. Defence Minister Rajnath Singh inaugurated a museum dedicated to the Tawang hero Thursday.
Congress is silently acknowledging it over-read verdict of last general election. You can see it in easy concession to SP. It will likely be more reasonable in Maharashtra & Jharkhand.
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