As India Inc supports Prime Minister Narendra Modi’s battle against black money, the ASSOCHAM has urged the government to consider among other relief measures, increasing the cash withdrawal limits for logistic and transport fleet owners since they need hard cash for meeting expenses for crew mem…
Tag: Demonetisation
Tamil Nadu’s handloom industry weaves its way around demonetisation to stay in business
For the first time in his 50 years as a silk handloom weaver in Kancheepuram, D Parthasarathy collected his wages from the bank. Last week, he took his friend along with him to help him withdraw money from the ATM. “I don’t know how to use the ATM, so I need to ask someone to […]
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Demonetisation Effect | Small entrepreneurs and retailers rush to sell online
Vimal Jain, a jewellery store owner, was desperate. The sales at his store, Shubham Jewellery, located in Bengaluru’s commercial hub Chickpet, had dropped by almost 70% since the government scrapped the Rs 500 and Rs 1,000 notes. Most of his transactions, which used to take place in cash, h…
Demonetisation | Steps to boost spending needed on urgent basis, waiting till budget may prove futile
Demonetisation is not just causing hardships for the common man it is also shifting the focus of the economic policy maker from the future to the near term. Finance Ministry officials are reacting almost every day to address the demonetisation challenges. In the process, they may be losing the pl…
Currency Switch Impact | How India’s internet commerce industry is coping currency recall
In the two weeks since the government announced its demonetisation initiative, India’s internet commerce industry has scrambled to adjust. Internet entrepreneurs have applauded the move, ostensibly for its long-term payoffs, although online marketplaces and logistics startups have been hit hard b…
Currency Switch Impact | Demonetisation to help leapfrog into digital economy: Kiran Mazumdar-Shaw
Biotech Entrepreneur Kiran Mazumdar-Shaw has said the demonetisation of high-value currency notes is an opportunity to leapfrog into a digital cashless economy, even as she called for a effective monitoring to prevent accumulation of fresh black money. The CMD of Biocon Ltd, which was rated among…
Currency Switch Impact | It’s a dawn of ethical business, illegality will be past
The public frenzy for getting hold of cash is visibly subsiding. However, the pressure may well be shifting to smaller towns to which currency supply may not have kept pace. Also, the next wage payment for casual workers, who may well comprise nearly 60 per cent of the workforce, is approaching. …
Currency Switch Impact | Start-ups welcome demonetisation with open arms
The ongoing monetary chaos in the nation has confused the public beyond reasonability. The demonetisation has brought forth several debates questioning the same. While many have come forward in support of Prime Minister Narendra Modi’s decision, a few are against the ban of Rs 500 and Rs 10…
Currency Switch Impact | Widespread distress as demonetisation hits SMEs hard
A huge wail of distress is being heard from small and medium business enterprises across India that have been hit hard by the demonetisation of high-value notes. Alarmed by the drastic fall in trade, commerce and business activities by around 75 percent post-demonetisation, traders in Maharashtra…
Currency Switch Impact | Online health services see surge in traffic
Online healthcare consultation platforms have witnessed a “huge jump” in the number of visitors as cash crunch in the wake of demonetisation has diverted many people towards telemedicine. Delhi-based ‘Visit’, an on-demand healthcare service online platform, says, its daily…