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HomePlugged InRBI was at odds with Narendra Modi on demonetisation two years ago...

RBI was at odds with Narendra Modi on demonetisation two years ago as well

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“Less than four hours before Prime Minister Narendra Modi announced demonetisation”, writes The Indian Express on the second anniversary of the initiative, the RBI gave its approval “but also rejected, in writing, two of the key justifications — black money and counterfeit notes — that he would make in his televised address to the nation”.

Instead, the paper reports, the RBI said most black money was held in real estate and gold.

Meanwhile, the second anniversary of demonetisation kicked off a fresh mudslinging match between the central government and the opposition.

“Demonetisation a carefully planned, criminal financial scam: Rahul Gandhi” reads a headline in NDTV; “Jaitley defends notebandi, lists benefits to economy” reads another in The Times of India. The Indian Express reports, “Jaitley said the ‘prophets of doom’ have been ‘conclusively proved wrong’ with India retaining its position as the fastest growing economy for the fifth year in a row.”

According to India Today, senior Congress leader and former union minister P. Chidambaram “called the note ban scheme the most ingeniously designed official money laundering scheme”.

In other news, the CBI vs CBI saga continues to throw up curious twists and turns. According to a report in The Indian Express, “Within a year, CVC (Central Vigilance Commission, a supervisory agency for the CBI) gave two opposite orders on [the same] note against Rakesh Asthana.”

It was referring to a note written last year by CBI director Alok Verma where he opposed Asthana’s appointment as special director. The CVC had earlier rejected the note to allow Asthana’s elevation to the post, but cited it as among the reasons he was devolved of his duties last month.

Meanwhile, Hindustan Times reports that the CVC is “scrambling” to meet the two-week deadline set by the Supreme Court for its inquiry into corruption allegations against Alok Verma.

Also in Hindustan Times, a small box on the front page reports India’s talks with the Taliban in Russia, due to take place Friday. “India on Thursday said it will participate, at a ‘non-official level’, in the meeting being hosted by Russia on Afghanistan where representatives of the Taliban will be present,” says the report. “Russia is attempting to bring regional powers together while discovering ways for establishing peace in war-torn Afghanistan,” The Economic Times reports.

The BJP’s name-changing spree seems to be contagious. After the Uttar Pradesh government changed some ‘Muslim-sounding’ city names, the Shiv Sena wants Osmanabad and Aurangabad in Maharashtra rechristened as Sambhaji Nagar and Dharashiv, respectively. The suggestion comes after Gujarat CM Vijay Rupani announced his intention to rename Ahmedabad as Karnavati.

Prime Time

Was demonetisation successful?

India Today anchor Rajdeep Sardesai held a panel discussion on how successful demonetisation was.

Business Today managing editor Rajeev Dubey described demonetisation as a poor move. “Everybody was impacted in a negative way as a result of this poor move,” he added.

BJP spokesperson Narendra Taneja, however, evaded a direct answer. “Our economy is respected all over the world. Ten years from now, one will see the positive impact of demonetisation,” he said.

Change of names

Republic TV anchor Arnab Goswami discussed whether the recent decisions to rechristen some cities in Uttar Pradesh were a religious issue. BJP spokesperson Sambit Patra said the BJP was trying to restore India’s culture. “This is not a religious issue. This is reclaiming India’s cultural pride,” he added.

Samajwadi Party spokesperson Faizan Kidwai, meanwhile, said the BJP was destroying the country’s heritage.
“These names are part of [our] heritage,” he added.

News it’s just kinda cool to know

Scientists have confirmed that the Earth has “two new moons that are entirely made up of extremely tiny dust particles of less than one millimetre size and reflect light rather faintly,” DownToEarth reports.

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