Banking

Going cashless or recapitalizing banks

A reckless war on cash – the real goal of #DeMonetisation

It isn’t just in India, that people are being forced to put money into banks. Banks worldwide are in trouble. Banks worldwide are needing bailouts. Demonetisation of notes is being considered as well as put into action in country after country – Europe (plan to not make 500 Euros post 2018), Venezuela (got reversed after …

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osmanabad-district-cooperative-bank

Extortion of inflated loans from farmers during #demonetisation

The Osmanabad District Cooperative Bank Ltd, has started sending notices to farmers with outstanding loans asking them to repay the loans or the bank would take socially humiliating measures against them. So far over 30 farmers in Nagur alone have received these notices; in the Lohara taluka, over 1000 farmers. The notices are dated 14th October 2016, however the farmers claim that they received them on the 23rd November 2016 (the notices are likely backdated, essentially rendering the one month notice meaningless). The farmers have been informed that unless the loans are repaid, they will begin to face recovery process in December.

Money

Black Money Case: Angry Supreme Court judges said this to the government

Because news channels are maintaining mostly a silence on this, it is important that you read it and encourage others to read it and make sure people of India – being kept in the dark – know about this. This post was originally published on NDTV – republishing here on the off chance it “disappears”. …

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