Demonetisaton

RBI's Rs 10,000 note proposal: Inflation, demonetisation, and counterfeiting worries

Must watch | How to get your Rs 2000 note exchanged | Important rules

SC reserves verdict on demonetisation, asks govt, RBI for submissions

AG said note ban's success or failure in curbing black money not a reason to invalidate the decision judicially as the move was made in good faith, after following due process

Restricted judicial review doesn't mean court will sit back: Supreme Court

The Supreme Court on Tuesday said limited scope of a judicial review in economic policy matters does not mean that court will fold its hands and sit back, observing that the manner in which a decision is taken by the government can always be examined. The top court was hearing a batch of 58 petitions challenging the demonetisation exercise announced by the Centre on November 8, 2016. During the hearing, the Reserve Bank of India(RBI) submitted that "temporary hardships" were there and that they are also an integral part of the nation-building process but there was a mechanism by which problems that arose were solved. A five-judge Constitution bench headed by Justice S A Nazeer said legal compliance of an economic policy can be examined by a constitutional court. "Court will not go into the merits of the decision taken by the government. But it can always go into the manner the decision was taken. But, just because it is an economic policy, does not mean court will fold its hands an

SC adjourns to November 24 pleas against 2016 demonetisation by govt

The Supreme Court on Wednesday deferred to November 24 the hearing on a batch of pleas challenging the Centre's 2016 decision to demonetise currency notes of denomination of Rs 500 and Rs 1000. A five-judge constitution bench headed by Justice S A Nazeer adjourned the matter after Attorney General R Venkataramani sought time to file a comprehensive affidavit in the matter. Venkataramani apologised to the bench also comprising Justices B R Gavai, A S Bopanna, V Ramasubramanian, and B V Nagarathna, for not being able to prepare the comprehensive affidavit and sought a week's time. Senior advocate Shyam Divan, representing petitioner Vivek Narayan Sharma, said this is highly unusual to ask a Constitution Bench for adjournment. Senior advocate P Chidambaram, appearing for one of the parties, said this is an embarrassing situation. Justice Nagarathna observed that normally the Constitution Bench does not rise like this and this is very embarrassing. The top court granted one week time

Demonetisation was a colossal failure which crippled economy, says KTR

Demonetisation was a colossal failure which crippled the growing Indian economy, Telangana Rashtra Samithi (TRS) working president K.T. Rama Rao said on Monday

Six years after demonetisation: e-transactions gain, but cash is still king

The Covid-19 pandemic has boosted digital transactions, with UPI turning out to be the biggest gainer, however, the dependence on cash has not reduced

Aware of 'Lakshman Rekha' but will examine demonetisation: Supreme Court

The Supreme Court said on Wednesday it is aware of the "Lakshman Rekha'' on judicial review of government policy decisions but will have to examine the 2016 demonetisation decision to decide whether the issue has become a mere "academic" exercise. A five-judge bench headed by Justice S A Nazeer said when an issue arises before a constitution bench, it is its duty to answer. Attorney General R Venkataramani submitted that unless the Act on demonetisation is challenged in a proper perspective, the issue will essentially remain academic. The High Denomination Bank Notes (Demonetisation) Act was passed in 1978 to provide in public interest for demonetisation of certain high denomination bank notes in order to check illicit transfer of money harmful to the economy which such currency notes facilitate. The top court said in order to declare whether the exercise is academic or infructuous, it needs to examine the matter since both sides are not agreeable. "In order to answer that issue,

Ill timing of demonetisation led to inequality, unemployment, says Moily

Ahead of the Supreme Court taking up petitions challenging demonetisation, senior Congress leader M Veerappa Moily on Monday said the "ill-timed" decision had led to migration of labour, unemployment and added to the misery of the poor. In a statement, Moily recalled that as the chairman of the Parliamentary Standing Committee on Finance, he had discussed the issue threadbare, but the report on demonetisation could not be adopted by the panel due to opposition from the ruling Bharatiya Janata Party (BJP) members. The apex court is set to hear a bunch of petitions challenging the demonetisation exercise of 2016, when the government had scrapped Rs 500 and Rs 1,000 currency notes on October 12. Moily also voiced concern over the "rising inequality" and the "fall in employment" in the country. The former Union minister referred to the World Inequality Report of 2022, which claims that India was among the most unequal countries across the globe with rising poverty and skyrocketing weal

SC to hear pleas challenging constitutional validity of note ban tomorrow

Various petitions were filed arising from the decision of the Government of India todemonetise the old notes of Rs 500 and Rs 1000

TMS, Ep 37: 5 years of since demonetisation, Form 26AS, and blockchain tech

What do key indicators tell us about the Indian economy 5 years after demonetisation? How will tweaked Form 26AS make tax evasion harder? What is blockchain technology? Get all the answers here

No I-T lens on deposits up to Rs 2.5 lakh by housewives post note ban: ITAT

Ruling on an appeal filed by an individual, the Agra bench of ITAT said the order would act as a precedent for all similar cases

Demonetisation, Covid-19 brought Indian economy to its knees: Kaushik Basu

Basu worries that a 'dispirited' India may be behind the country plummeting from one of the fastest growing economies towards the bottom of the heap in a short span of four years

How Covid crisis exhausted what Mr Modi had in plenty all these years

The three things that derailed the economy in the past - war, drought and oil - were mostly absent during his regime, but with the Covid crisis Mr Modi's luck seems to have run out, writes T N Ninan

Post-demonetisation, corruption increased: Samajwadi Chief Akhilesh Yadav

Taking a dig on four years of demonetisation, Samajwadi Party chief Akhilesh Yadav said fake currency notes are still in circulation and corruption has increased

BJP says demonetisation dealt a severe blow to rampant systemic corruption

Demonetisation was good for the country, BJP national spokesperson Rajeev Chandrasekhar said

Popular leaders and patchy economic legacies: Can Modi buck the trend?

The last three PMs who served full terms started out in their early 70s. Mr Modi is younger and fitter. Now he needs to find it in him to change course if he is to beat economic odds, writes T N Ninan

Ease of living, in a punitive state

Under this government, slogans, memes, catchphrases, alliterative coinages, and clever abbreviations abound. One of them being repeated ad nauseam is ease of living

Nearly 500 listed companies can't meet interest outgo from their earnings

The highest proportion of firms unable to meet their interest payments from earnings was 19.1 per cent in March 2017--the quarter after demonetisation.

Cash in circulation rises, hindering Modi govt's digital economy push

Ratio of currency in circulation to GDP has risen to 11.23 per cent as of March 2019, putting question mark over demonetisation aim.