Page 2 - One Year Of Demonetisation

One year of demonetisation: Hits and misses

From shortage of new banknotes to uncalibrated ATMs to people suddenly finding themselves standing for hours in queues, India started feeling the pinch

One year of demonetisation: Note ban helped expedite gold reforms

Demonitisation of high value currencies a year ago has provided a big trigger to hasten the reforms in gold trade and several measures that followed in last one year has helped in making gold jewellery business transparent. More measures are in pipeline.Soon after announcement of withdrawal of high value currency notes on 8 November last year, those having huge number of such currency notes not shown on books, first went to jewellery shop and offered high premiums to buy gold jewellery. On that night, several jewellers were open till late night as till 12 at night they were officially allowed to accept withdrawn currencies.However such business continued for several days. Income tax department raided jewellers on 10 November across country and used CC TV footages of stores to check how trade was done in old notes. However afterwards some jewellers were sending their personnel to customers' home with note counting machines to collect gold. Even some chartered accountants have also ...

Income tax dept to issue 100,000 notices for huge deposits after note ban

These are part of Operation Clean Money initiated by the tax department in Jan to check black money post note ban

Note ban is BJP's move to convert their black money into white, says Mamata

Mamata Banerjee branded demonetisation as a 'devil act' and said Indian economy has been 'ruined'

One year of demonetisation: Microfinance industry recovering slowly

MD of Arohan Manoj Nambiar said demonetisation severely affected poor women as they were unable to repay in old currencies

The demonetisation puzzle

Was the massive economic disruption worth it?

One year of demonetisation: Bankers say note ban has been good for them

Chanda Kochhar said the note ban led to formalisation of financial savings and increased the flow of funds to mutual funds and insurance

Note ban, black money crackdown pushed PAN registrations, ITR filings

The tax department aims to bring large tax evaders to account and gently persuade those making minor violations to comply with the rules

One year of demonetisation: Changing goal posts and limited impact

Based on the presentations made by several companies dealing with consumer-related products - consumer goods, automobile, real estate - the shadow of disappearing currency had left its imprint till June 2017.

Bhiwandi powerlooms unable to untie Gordian knot of demonetisation and GST

Around 300,000 workers were said to have been impacted due to the closure of units. It is estimated that more than 50% of the units in Bhiwandi were shut down following demonetisation

Demonetisation, GST haunt Kolkata's Burrabazar

Immediately after note ban, which sucked out 86% of cash in circulation, business fell by 50-90% in wholesale market

After demonetisation and GST, winter of discontent in Ludhiana

People question the manner in which demonetisation was executed and ask why there wasn't a bigger interval between note ban and the new tax regime

One year of demonetisation: We are playing for the future not the past

Demonetisation and GST did have an impact, to an extent. However, economists and markets had already expected a slowdown

One year of demonetisation: Tirupur knitwear industry frays at the seams

The 1,200-odd units in Tirupur's main market and other job works centres were doing a business of Rs 15,000 cr before Nov 8. Today, not even 40% of that business is left

One year of demonetisation: Strongest drivers of economy were the worst hit

Consumption and services, the strongest drivers of pre-demonetisation growth, weakened significantly after December 2016, as reflected in the steady de-growth of consumer durables until recently

One year of demonetisation: India Inc gets a shock treatment

The corporate sector took production cuts, conducted inventory management and reduced staff to meet challenges following the govt's note ban decision