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Demonetisation in India

May 6, 2018
Events that changed the face of India

With 70 years gone by since India became independent, the nation has passed through several vicissitudes, accomplishments and mass movements. There have been many major events after independence which have moulded the face of India for good or bad. During the last seven decades, the country has witnessed several changes both in the political arena and social life. It overcame many hurdles and Indians earned global recognition in various fields. On the 70th anniversary of [...]Read More

November 8, 2017
Demonetisation Anniversary

It has been exactly one year since Prime Minister Narendra Modi launched what has been decreed India’s greatest offensive against black money – the demonetisation of INR 500 (old) and INR 1000 notes. Delivered a bolt from the blue, the PM addressed the nation on Friday (8 November, 2016) at about 8 pm and said that the aforementioned currency notes would be withdrawn with immediate effect. The government also announced the introduction of new INR [...]Read More

June 7, 2017
farmers strike at mandsaur

Within days of Maharashtra contolling the farmers’ strike with a demand of loan waiver among others, the farmers led by the Rashtriya Kisan Mazdoor Sangh in Madhya Pradesh have now started strike on similar grounds. Things got out of hand on Tuesday, 6 June, 2017, as the farmers went on a rampage and the protest turned violent as a result of which the police opened fire resulting in the death of five farmers and critically [...]Read More

June 3, 2017
GDP PLUNGES TO 6.1 PERCENT

  After a more or less giddy ride of being the “the world’s fastest-growing large economy”, India for the first time since 2015 trailed China in the growth rate. The country registered a growth rate of 6.1% in the March quarter. This growth rate is much below the GDP growth of 8 per cent in 2015-16, 7.5 per cent in the previous year and the expected growth of 7.1% the current year. Demonetisation seems to [...]Read More

January 15, 2017
Two Months After Demonetisation

Demonetisation has been the biggest reform move in India since nationalisation of 14 private banks in 1969. The impact of the decision is already being felt. As of mid-January 2017, the forecast on the GDP expected in the last year is 7.1%, as against the pre-demonetisation expectation of 7.6%. There is a slowdown happening alright and the Central Statistics Office (CSO) data released recently seems to bear that out. The economic indicators for November and [...]Read More

January 2, 2017
BHIM App Review

Ever since the government of India undertook its demonetisation drive, withdrawing old Rs 500 and Rs 1000 notes from the system and placing restrictions on withdrawal of cash, people from across the country have been turning towards digital payments as the only viable alternative. From plastic money to instant bank transfers and from digital wallets to account-linked transactions, the country is exploring newer ways to go cashless. Digital wallets, also popularly known as mobile wallets [...]Read More

December 30, 2016
50 Days of Demonetisation - What now?

As the year draws to a close, all eyes are on 2017 now with hope for a better year than what 2016, and especially the last two months of 2016, presented. After making the historic announcement on demonetisation, Prime Minister Narendra Modi had asked for 50 days for things to improve and 31st December was announced as the last day for the public to deposit their demonetised currency in the bank. That deadline has now [...]Read More

December 29, 2016
Life in the Times of Demonetisation

8 November, 2016 will go down in history as the date that changed India.  On this day, Prime Minister Narendra Modi set India on an unchartered course, which even he was unsure of, when he made the dramatic announcement of withdrawing of Rs 500 and Rs 1000 note as legal tender and replace it with new Rs 500 and Rs 2000 notes. India is still reeling under the impact of that announcement and will continue [...]Read More

December 28, 2016

On 8 November, 2016, Prime Minister Narendra Modi shocked the country by withdrawing high denomination notes (INR 500 and INR 1000) as legal tenders. The move was made with an intention to unearth the black money stashed by tax evaders, drug cartels, traffickers and other illegal entities. New INR 500 and INR 2000 notes were introduced but the move has caused much pain to the common man and a number of sectors in the country [...]Read More

December 1, 2016
Recycling the Old Currency Notes

The old Rs 500 and Rs 1000 currency notes are gone but have you ever wondered what happens to those once they are out of the system? Don’t be surprised to learn that the piece of furniture you have been eyeing may well be made up of the same Rs 500 and Rs 1000 notes. While you are not going to go laughing all the way to the bank, you can be proud to have [...]Read More

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