DeMonetisation did not promote the uptake of digital transactions Driving India towards a less-cash, digital payments economy was one of the aims claimed by the Prime Minister when he invalidated 86% of India’s circulating currency. The reasoning was that India was a largely cash-based economy; if circulating cash was reduced, people would rapidly move towards …
Was the demonetisation a success or failure? Various government claims and the subsequent lacklustre results leave no doubt that the demonetisation has resulted in no significant utility to the nation and caused considerable damage.
Growing evidence shows that India is serving interests of foreign influencers at the cost of the well being of Indian citizens. Demonetisation is just one in a long list of moves that benefit big money.
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 …
A reckless war on cash – the real goal of #DeMonetisation Read More »
The RBI had removed from its website a transcript it had published of Shri R. Gandhi’s statement about the currency disbursed to the public by the RBI. It was later published as a few bullet points with controversial parts removed as an “edited transcript”
As per Arun Jaitley, the demonetised cash in circulation on the 8th of November was 15.4 lakh crores. The population of India is over 120 crores. (been six years since the census, but we go with this lower number). This averages to 12,833 thousand rupees per Indian. It may seem a lot, but the money …
Why black money was never the real goal of #demonetisation Read More »
Political parties in India are not required to account for small cash donations. This has been used to do much evil in India. Political parties should consider exchanging the troublesome notes for citizens as donations received and returned (for whatever reason, including “demonetisation”) and get the notes exchanged in bulk at the RBI (or deposited into …
An opportunity for political opposition of #demonetisation Read More »
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 »
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 »