The government/RBI (it is hard to tell the difference these days) has placed restrictions on the withdrawal of deposits of 500 rupee and 1000 rupee notes made into bank accounts under the Jan Dhan scheme. This apparently has some good points, which are currently not visible (like good points of many decisions so far related …
6 problems with the restrictions placed on the Jan Dhan accounts Read More »
For all the pretty speeches and tears and drama and claims and assurances, the policies of the government have consistently put the poor at a disadvantage. The manner in which demonetisation was done The “sudden” announcement of the demonetisation, which has often been claimed as necessary, but never adequately explained caused a lot more harm …
5 ways Modi sarkar is targeting the poor for destruction #demonetisation Read More »
The government began with focusing on fake currencies and black money as the reason for demonetisation. As deposits started rapidly piling in banks and it looked increasingly unlikely that there was a lot of black or fake money being caught, the goalposts started shifting. Soon it became evident that the supply of legal notes was …
The cashless India jumla as an answer to #demonetisation mess Read More »
Disclaimer: I am not at all knowledgeable on the subject. This is a question based on the reading I’ve been doing about demonetisation. One of the objectives of demonetisation was curbing black money or money that tax should be paid on, but isn’t. Going in, no one appears to have had an idea of how …
What if bank deposits exceed the notes issued by RBI? Read More »
As soon as the demonetisation of Rs.500 and Rs.1000 notes was announced, I had said that it was a forced and public funded “bailout” of banks. This article examines news reports from the last year and explains how I arrived at the conclusion.
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.
There is an abundance of claims by the government both about the virtues of demonetisation as well as the duration of the “inconvenience” people have to go through. Here is my attempt to debunk some of them. To begin with, there is a slight problem. The objectives of the demonetisation have not been officially and explicitly …
Problems with the tall claims made about demonetisation Read More »
What follows is a compilation of excerpts from various articles describing the impact of demonetisation. Demonetisation effect: Cash crunch hits transport business hard The demonetisation exercise has put the trucking business, one of the largest unorganised, cash-based sectors in the country, in great difficulty. Operators say their truck transport business has been badly hit by …
Demonetisation compilation: some areas of impact of demonetisation Read More »
Ever since Modi announced the demonetisation of 500 and 1000 rupee notes, I have been going to the local market daily to see the impact it would have on us. The impact has been nothing short of disastrous. While numbers shared in terms of statistics state decrease in business as being around 50% – more …
Modi Sarkar’s surgical strike on the poor #demonetisation Read More »