Demonetization an utter flop

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Demonetization an utter flop

Post by silvermani on Thu Aug 10, 2017 1:07 pm

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Re: Demonetization an utter flop

Post by truthbetold on Sat Aug 12, 2017 12:26 am

How come none of the papers carried info on the report?

I do not about know how much black money was unearthed by demonetization but real estate prices were knocked down because of demonetization.

Per article, current economic growth is jobless growth. Any statistics? Based on ground reality, job growth is anemic or absent in my opinion.

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Re: Demonetization an utter flop

Post by confuzzled dude on Sat Aug 12, 2017 5:42 pm

Let alone a windfall, the RBI has not been able to protect its income, thanks to demonetisation. For 2016-17, it will pay Rs 30,459 crore in dividend to the government, compared to Rs 65,876 crore it paid last year. There are broadly three reasons for the lower payout, directly or indirectly linked to the November 8 2016 decision:

First, the central bank is understood to have spent about Rs 15,000 crore on printing new notes. This money wasn’t budgeted, because the note-ban decision was supposed to be a surprise move.
Second, when people rushed to deposit demonetised notes, banks ended up with huge piles of cash and left the financial system with excess liquidity that could have stoked inflation or triggered other imbalances.

The RBI was forced to conduct reverse repo operations: meaning it had to borrow short-term money from the banks to suck out excess liquidity. Some estimates put the excess liquidity to be as high as Rs 8 lakh crore in early January, which means the RBI must have paid a fair amount in interest charges to the banks.
http://www.hindustantimes.com/opinion/script-gone-wrong-rbi-takes-demonetisation-hit-cuts-dividend-to-govt-by-more-than-half/story-y8lXWKpupQecLnTA9AwSjJ.html

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Re: Demonetization an utter flop

Post by TruthSeeker on Tue Aug 15, 2017 12:22 am

Demonetization takes some BALLS for any leader to implement, let alone in a country like India.

Corrupt Congress.....phew.......THE MOST HONEST man in Indian democracy - Dr. Manmohan Singh - had the MOST CORRUPT governance in Indian history.

Ironic.

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Re: Demonetization an utter flop

Post by confuzzled dude on Sun Aug 20, 2017 9:24 am

TruthSeeker wrote:Demonetization takes some BALLS for any leader to implement, let alone in a country like India.

Corrupt Congress.....phew.......THE MOST HONEST man in Indian democracy - Dr. Manmohan Singh - had the MOST CORRUPT governance in Indian history.

Ironic.
Don't confuse courage with dictatorial tendencies

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Re: Demonetization an utter flop

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