Tag: demonetisation

Currency in circulation now is almost double that in use just before demonetisation: Chidambaram

Currency in circulation now is almost double that in use just before demonetisation: Chidambaram

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The government’s argument is that demonetisation led to phenomenal growth in digital transactions. | Photo Credit: Getty Images/iStockphoto Reserve Bank of India (RBI) figures show ₹32.18 lakh crore currency in circulation now in India, almost double the ₹17.97 lakh crore of currency in use just before demonetisation in November 2016, senior advocate P. Chidambaram submitted […]

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Demonetisation was part of a larger policy to expand formal economy, government tells Supreme Court

Demonetisation was part of a larger policy to expand formal economy, government tells Supreme Court

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Chinnakannu, a blind, destitute man in his 70s, holds demonetised notes at the Collectorate in Tamil Nadu’s Krishnagiri on October 18, 2021. Mr. Chinnakannu had never heard of demonetisation until the previous day. | Photo Credit: The Hindu The Union Finance Ministry told the Supreme Court on Wednesday that demonetisation in November 2016 was one […]

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Demonetisation deliberate move by ‘PayPM’ to help billionaire friends monopolise economy: Rahul

Demonetisation deliberate move by ‘PayPM’ to help billionaire friends monopolise economy: Rahul

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Mr. Gandhi’s attack came on the sixth anniversary of demonetisation Mr. Gandhi’s attack came on the sixth anniversary of demonetisation Congress leader Rahul Gandhi on Tuesday attacked Prime Minister Narendra Modi over demonetisation, saying it was a deliberate move by “PayPM” to ensure two-three of his billionaire friends monopolise India’s economy. The Congress has often […]

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Demonetisation behind the buoyancy in tax collections, says RBI MPC member

Demonetisation behind the buoyancy in tax collections, says RBI MPC member

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Demonetisation enhanced digitisation and formalization in the economy and reduced tax evasion, said Ashima Goyal Demonetisation enhanced digitisation and formalization in the economy and reduced tax evasion, said Ashima Goyal RBI Monetary Policy Committee (MPC) member Ashima Goyal has attributed the rise in tax collections to demonetisation and said that it will help the nation […]

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Did you achieve objectives of demonetisation, Supreme Court asks government, RBI

Did you achieve objectives of demonetisation, Supreme Court asks government, RBI

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Senior advocate Chidambaram says only .0027% fake currency was ‘captured’ following the exercise Senior advocate Chidambaram says only .0027% fake currency was ‘captured’ following the exercise A Constitution Bench on Wednesday questioned whether the government and the Reserve Bank of India (RBI) realised their stated objectives of choking black money, terror financing and fake currency […]

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Number of ₹2000 currency notes in circulation continue to decline

Number of ₹2000 currency notes in circulation continue to decline

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In value terms also, the ₹2000 denomination notes dipped from 22.6% of the total value of currency notes in circulation to 17.3% at the end of March 2021 and further to 13.8% at the end of March 2022. In value terms also, the ₹2000 denomination notes dipped from 22.6% of the total value of currency […]

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