Raghuram Rajan: Demonetisation, GST held back India’s economic growth, 7% not enough
NEW DELHI: Former Reserve Bank of India governor Raghuram Rajan has contended that the introduction of demonetisation and the Goods and Services Tax (GST) were the two major events that held back India’s economic growth last year, PTI reported. Speaking at the University of California in Berkley on Friday, Rajan maintained that the seven per cent […]
RBI Explains What It Is Doing With Banned Rs. 500 And 1,000 Notes
NEW DELHI: Demonetised Rs. 500 and Rs. 1,000 notes, which have been counted and processed for genuineness, are shredded and briquetted before being disposed off through a tendering process, the RBI has said. The central bank had earlier estimated the value of old Rs. 500 and Rs. 1,000 notes received, as on June 30, 2017, […]
15 months after demonetisation, RBI still processing returned notes
NEW DELHI: The RBI has said that Rs 500 and Rs 1,000 notes, returned to banks when the government demonetised high-value currency 15 months ago, are still being “processed for their arithmetical accuracy and genuineness”. This is being done in an “expedited manner”, the central bank said. “Specific bank notes are being processed for their […]
