The country’s exports will likely face a temporary “slowdown” due to the cash crunch following the announcement of demonetisation on November 8, according to Commerce Secretary Rita Teaotia. Already, merchandise exports witnessed a rise in only three of the past 23 months through October. Small a…
Tag: Demonetisation
Demonetisation: Yes Bank, Grofers tie up to deliver cash at doorstep
Extending facility to deliver cash at doorstep, Yes Bank has now tied-up with e-grocer Grofers allowing customers to get cash of up to Rs 2,000 when they order grocery online. “Grofers, the on-demand e-commerce mobile and web application, is opening up a new avenue for people to get cash …
Demonetisation has already affected the SMEs : Carnegie India
Carnegie India is a public policy think tank organization which was launched in April 2016. It is the sixth international center of the Carnegie Endowment for International Peace, Washington DC. The center’s research and programmatic focus includes the political & economic reforms in India, p…
Demonetisation Effect | Cotton supply hit badly, sends world market into tizzy
Demonetisation in India — the world’s top producer and second largest exporter of cotton — is “temporarily exacerbating” global supply of the fibre and may prompt importers like Bangladesh to look for alternative sources to stock up immediately, US-based International Cotton Advisory Committee (I…
Indian start-ups are afraid of global competition: IAN Co-Founder
Indian start-ups that are playing up the ‘home-grown’ card and asking the government to shut down the doors for global companies like China, shows that the companies are just losing confidence, said Saurabh Srivastava, Chairman Emeritus at TiE Delhi. “I think, we are losing confidence ̷…
Demonetisation will convert informal economy into organised sector: Assocham President
Prime Minister Narendra Modi’s drive to take the economy into a ‘less cash’ mode through a multipronged strategy would not only check the menace of black money and corruption, but would also convert a large part of the informal economy into the organised sector, according to Assocham President Su…
Indian textile hubs adopt cashless payment modes
The textile Ministry is promoting cashless payment within the industry by encouraging textile workers, artisans and weavers to open bank accounts following the demonetisation of high currency notes. More than 5 lakh workers have opened their accounts in the last 10 days, and a large number of the…
Govt may impose ‘dumping duty’ on cloth from China: Smriti Irani
The Union government is considering imposing a “dumping duty” on cloth imported from China, Union Textiles Minister Smriti Irani said on December 10. Irani visited several powerlooms in Bhiwandi in Maharashtra and spoke to workers on December 10 afternoon, promising to revive the once booming ind…
It’s never been better, say fintech start-ups
Mumbai: One month of demonetisation has brought about an unprecedented surge in business volume for startups connecting customers with vendors cashlessly via a mobile wallet or simply a payment gateway. Since November 8, when the Central government demonetised Rs. 500 and Rs. 1,000 notes, Mumbai-…
Do Indian start-ups need protection from foreign competition?
I use an Ola cab almost everyday. It is reliable, reasonably cost effective and in the wake of the government’s recent demonetisation drive, a lifesaver because of an efficient e-wallet built into its mobile app. I also like the fact that this online cab hailing service is made available to me by…