Congress President Rahul Gandhi on Wednesday targeted Prime Minister Narendra Modi for "making fun of our farmers misfortune" following reports of the Agriculture Ministry admitting that millions of farmers were unable to buy seeds and fertilizers because of...

Several senior Congress leaders on Friday staged a protest outside the Reserve Bank of India (RBI) on the second anniversary of demonetisation that was announced by Prime Minister Narendra Modi on November 8, 2016.The Congress in a statement said the protest...

Former banker Meera H. Sanyal in her book launched on second anniversary of the move to nullify high denomination currency, says demonetisation "paralysed businesses" in the country.Sanyal, a former CEO and Chairperson of Royal Bank of Scotland in India and...

Congress President Rahul Gandhi on Thursday called the note ban a "cruel conspiracy" and a "criminal financial scam"."November 8th will forever go down in the history of India, as a day of infamy," said Gandhi, adding that "note ban was a planned and cruel conspiracy....

Describing the demonetisation exercise of the Modi government as the "most ingeniously designed official money laundering scheme", former Union finance minister P Chidambaram on Thursday said the ban did not render any currency notes "worthless" and the government...

Attacking Narendra Modi on the second anniversary of demonetisation, Congress President Rahul Gandhi on Thursday called the note ban a "cruel conspiracy" and a "scam"."Note ban was a planned and cruel conspiracy. This scam was a scheme to launder black money of...

Coming down heavily on the Narendra Modi government for making efforts to "capture" the RBI, Congress leader and former Union finance minister P Chidambaram on Thursday said the chain of events could "irretrievably damage" the credibility and reputation of...

Ridiculing Prime Minister Narendra Modi's "knowledge of economics", the Congress on Thursday ripped into him for the "reckless" decision of demonetisation that it said wrecked the economy and consumed many lives.On the second anniversary of the Modi's 2016 decision...

The Modi government's "disastrous demonetisation" devastated crores of people dependent on daily cash transactions and helped to convert black money into white, the CPI-M said on Thursday."On the second anniversary of demonetisation, the Indian economy is...

Holding demonetisation an "ill-fated" and "ill-thought" exercise, former Prime Minister Manmohan Singh on Thursday said the scars and wounds of the decision are only getting more visible with time and its deeper ramifications are still unravelling.On the second...

Terming the demonetization a "scam", Congress President Rahul Gandhi on Thursday said the primary purpose behind the exercise was to help "15-20 biggest crony capitalists" whose loans have turned into NPAs."Why did he (Prime Minister Narendra Modi) do it (demonetization)?...

The Reserve Bank has twice released its reports stating that the demonetised Notes of `500 and `1000 have been substantially deposited in the Banks.A widely stated comment has been that just because most of the currency came back into the Banks, the object...

Notwithstanding the fact that only over Rs.10,000 crore of demonetised money did not come back to the RBI, government on Wednesday claimed that it has achieved the targets it had set in its decision, including checking black money, counterfeit currency and terror funding...

It didn't take long for fake notes of 2,000 rupees to start circulating after Prime Minister Narendra Modi announced demonetisation in November 2016, with one of its stated aims being to kill counterfeit currency, official data show.According to the National...

Prime Minister Narendra Modi might be listing demonetisation and GST as his government's two major achievements which changed the course of the Indian economy but the people of Maninagar, the constituency he represented as Chief Minister, do not seem to be...

NITI Ayog member Bibek Debroy admits that demonetisation was a temporary shock on growth but asserts that the economy has now climbed back. One year into the disruptive note ban, Prime Minister Narendra Modi's economic policy adviser says the worst is over...

Hitting out at the Narendra Modi government, Congress Vice President Rahul Gandhi on Wednesday said demonetization and the GST rollout have "broken the legs" of Surat, as he observed a "black day" in the textile and diamond hub of the country.The Gandhi scion...

One year down the line, the decision of demonetisation has proved right and successful and the common people have supported the government in its fight against corruption even after facing some problems, Union Minority Affairs Minister Mukhtar Abbas Naqvi...

Union Minister of State for Heavy Industries and Public Enterprises Babul Supriyo on Wednesday slammed the Trinamool Congress for turning its Twitter profile picture black in protest against demonetisation."There is nothing to say about leaders and political...

Rejecting West Bengal Chief Minister Mamata Banerjee's comments on demonetisation, Union Minister Jayant Sinha on Wednesday said the note ban announced on November 8 last year was a "miracle and not a scam"."In Bengal, under the leadership of Mamata Banerjee,...

Exactly a year ago, Prime Minister Narendra Modi dramatically scrapped high value currency notes in a decision that jolted the economy and divided opinions on a major policy like never before. While the jury is still out on the note ban, which cost India two...

Hundreds of Congress workers on Wednesday formed a human chain here as part of their party's observance of November 8 as 'black day' on the first anniversary of the demonetisation of high value currency notes.Congress workers dressed in black shirts and pants,...

Demonetisation of high-denomination notes hit the poor and common people hard as the BJP government at the Centre deceived Indians by unilaterally scrapping Rs 500 and Rs 1,000 notes last year, the CPI-M said here on Wednesday."Decision to demonetise Rs 500 and Rs...

Union Minister Smriti Irani on Wednesday attacked the family of Congress President Sonia Gandhi by dubbing it a "family synonymous with graft" and said demonetisation was a tragedy for the family."Demonetisation (on November 8, 2016) certainly came as a tragedy...

A year after demonetisation, scrapped Rs 500 and Rs 1,000 notes continue to find their way into donation boxes at some temples in Odisha.Unable to dump their old currency notes, devotees are dropping the demonetised notes in donation boxes at Jagannath...

All major opposition parties, social organisations, farmer groups, mediapersons, NGOs, civil society activists and individuals organised massive protests across Mumbai and other parts of Maharashtra on Wednesday to mark the first anniversary of demonetisation,...

The litmus test for the success of any demonetisation is the amount of cash that does not return to the banking system. For long, economists and observers were intrigued by the refusal of the RBI to share data on SBNs (Specified Bank Notes) returned to banks...

Defending the governments decision to demonetise high value currency last year, Finance Minister Arun Jaitley on Tuesday said that demonetisation cannot be a one-stop solution to cleanse all corruption, but it did give a "new direction" to economic and financial...

'Demonetisation'-- the withdrawal of legal tender status of notes of denomination Rs 500 and Rs 1,000 -- announced by India's Prime Minister Narendra Modi over a televised address on 8 November 2016 will go down in history as one of the most reactionary and illogical economic...

When Raghuram Rajan, former governor of the Reserve Bank of India (RBI), cautioned the government against demonetisation, saying short-term economic costs would outweigh long-term benefits, he was not trying to be prophetic. But a year after Prime Minister...

The first three quarters of 2016 were going just great and smartphone players had raked in super profits right up to Diwali -- then demonetisation caught them by surprise, as it did others.The note ban hit manufacturers across the spectrum -- especially...

Large companies and bankers, employees and customers, as well as small and medium enterprises have all vented their anger at the demonetisation announced by the government on November 8 last year.But the common man and woman have not been heard enough, though...

Sections of the Indian film and television which did business through banking channels remained largely on track after the November 8, 2016, demonetisation. But Bollywood's daily wagers -- spot boys, lightmen, casual actors and other temps -- continue to face...

The backbone of India's manufacturing sector -- micro, small and medium enterprises (MSMEs) -- had not yet recovered from the demonetisation move when the Goods and Services Tax (GST) came in to add to the pain, according to industry stakeholders."The base...

As bank customers suffered by waiting in long queues to withdraw their money from November onwards last year, another group of people -- bank employees -- endured the hardship of extended work hours and customer anger.The employees, say bank unions, bore...

The adverse impact of demonetisation on the Indian economy would be transitory, according to global and domestic credit rating agencies.However, the current slowdown could partially be attributed to implementation of the Goods and Services Tax (GST) introduced...

Style, it would appear, never goes out of fashion. But the passion to spend on designer clothes and accessories took a beating in the past year, ever since the Narendra Modi government implemented the demonetisation policy. The introduction of the Goods and...

In India's holiday capital, demonetisation crashed the party for the tourism and travel industry, rocking the coastal state's gravy-boat.Goa's tourism season begins in October as the winter sets in and winds up in March, with the advent of summer. Coming...

 The 'Green Revolution' state is yet to recover from the after-effects of the note ban decision.The announcement by the Narendra Modi government was sudden and it could not have come at a worse time for farmers in Punjab and neighbouring Haryana as the paddy...

Though the government's radical measure of demonetisation has disrupted the economy and has hit the real estate sector -- already reeling under prolonged slowdown -- it will turn out to be a blessing in disguise in the medium-to-long term.As an asset class,...

It was a year when India's realty sector was shaken to its foundation. A majority of the big, medium and small realtors across the country suffered from a severe liquidity crunch, stalled projects, elusive investors and buyers and a near-blanket stay on...

There's one sector which gained more than any other from the centre's demonetisation move -- the banks. Perennially reeling under the burden of bad loans, they seemed to have got a respite even as their customers had to go through wrenching pain."Demonetisation...

In a global financial landscape where everyone is enjoying a swim in a pool of excess liquidity created by central banks in the developed world, Indian interest rates remain amongst the highest in the world.Earlier this month, the International Monetary...

Almost a year down the line, is Prime Minister Narendra Modi's dream of making India a cash-less or less-cash country becoming a reality?Industry stakeholders feel that though the note-ban drive by the government gave the necessary impetus to citizens to start...

While the immediate impact of demonetisation was seen in the long queues outside ATMs and felt through acute cash shortage, its anniversary is an appropriate vantage point to assess the less visible and generalised effect on the economy of what was easily...

Much of the efforts of the Bharatiya Janata Party (BJP) leaders to explain away the current economic slowdown as the result of "technical" glitches, as party president Amit Shah tried to do, or as teething troubles of demonetisation and the Goods and Services...

Two lakh suspicious companies had done account operations and post-demonetisation transactions depositing and withdrawing over Rs 4,550 crore, the government said on Friday, claiming a major breakthrough in the fight against black money and shell companies...

Music maestro A.R. Rahman on Friday unveiled a 19-minute music piece titled "The flying lotus", based on Prime Minister Narendra Modi government's move to demonetise high value currency notes. But he says he's "not making a judgment" with the piece.In November...

Increase in volume of digital transactions, widening of tax base and squeezed circulation of high denomination currency were the real measures of success of demonetisation, Finance Minister Arun Jaitley said on Monday.The success of the November 2016 note ban...

The demonetisation tool used by the Indian government to drive out black money could have long-term benefits but its short-term economic costs would outweigh them, ex-Reserve Bank of India governor Raghuram Rajan feels."I was asked by the government in February...

While the RBI launched the 200-rupee note a week ago, it may take up to three months for ATMs to start dispensing the new denomination currency as it will involve a huge exercise of recalibration.Some banks have even asked the ATM companies to begin testing...

It will take time for the economists to figure out whether the fall in the growth rate to 5.7 per cent is the result of the disruption caused by demonetisation and the Goods and Services Tax (GST), but most of the common people will see a connection between...

Two days after the demonetisation on November 8 last year, the new 2,000-rupee note hit the market in good numbers but the new 500-rupee note took a long time in coming, putting millions of people in difficulty for days on end.Have you ever wondered why...

“As per reports of agencies, the demonetization of bank notes of Rs.500 and Rs.1000 denomination resulted in significant positive impact on most theatres of violence in the country including stone pelting incidents in J&K. Since illegally held cash forms...

Six people, including an advocate and an engineer, were held here with demonetised currency notes of the face value of Rs 2.8 crore, police said on Friday."Based on tip-off, police intercepted an autorickshaw at BBMP playground in Vijaya Bank Layout in south...

Fifteen persons were arrested from Bengaluru on Tuesday and demonetised currency totalling Rs 5.75 crore was seized from them, police said on Tuesday.This followed the search of a car parked in front of a hotel at Basavanagudi on a tip, Deputy Commissioner of...

There will be a 2 per cent drop in the Indian government's IT spending this year due to demonetisation and a drop in industrial production, market research firm Gartner said on Thursday.The government is forecast to spend $7.8 billion on IT in 2017 -- a 7.5...

Demonetised currency notes worth Rs 30 crore were seized from a former corporator's house in the city's western suburb, police said on Friday."We found the illegal cash in the house of ex-corporator Nagaraj, 54, during a search conducted on a court warrant in a...

The Border Security Force has seized Fake Indian Currency Notes of face value of Rs 4 lakh in Rs 2,000 denomination in two areas of northern West Bengal since Sunday, an official release said.Acting on a specific information, BSF personnel, under Border...

Hundreds thronged the RBI here with old demonetised notes to grab new ones on the last day of official exchange on Friday but most people returned home disappointed.Bank officials and security personnel turned away many because the facility was only for those...