An interesting dichotomy in consumer spending space has emerged as a result of demonetisation.
By now it is amply clear that the process of remonetising India is going to be long drawn out and may not bring back the entire Rs 15.44 lakh crore of junked currency.
Tragically, it is the ultimate betrayal of Prime Minister Narendra Modi by our bankers.
Union Minister Kalraj Mishra said that government was aware of the hardships faced by the people and was taking firm action to alleviate them.
SC sought response of Centre on whether district cooperative banks can be allowed to accept deposits and can there be a minimum assured withdrawal from banks.
Seeking to neutralise political turmoil over demonetisation, PMO is likely to shortly notify a committee of CMs to suggest ways to make India less-cash economy.
The decision is aimed at discouraging hoarding of valid currency notes and increasing its circulation to mitigate cash crunch.
After limiting exchange of defunct currency notes to a maximum of Rs 2,000, the government may withdraw the facility gradually.