Demonetised notes are being shredded and compressed into bricks, says RBI

Such notes are not recycled, the Reserve Bank of India said in response to a Right to Information query.

Scroll Staff

· Mar 18, 2018 · 04:48 pm

Reserve Bank of India says it is still processing demonetised notes, in an ‘expedited manner’

The central bank did not give an expected date for when the process would be complete.

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· Feb 11, 2018 · 02:42 pm

Demonetisation and GST led to massive job and revenue losses, industry association survey finds

The head of All India Manufacturers’ Organisation said that demonetisation led industry into the intensive care unit, while GST put it into a coma.

Mayank Jain

· Nov 08, 2017 · 02:00 pm

Demonetisation, GST were ‘twin blows’ for India’s economy and small businesses, says Manmohan Singh

The former prime minister reiterated his statement that the note ban was ‘an organised loot and legalised plunder’.

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· Nov 07, 2017 · 12:38 pm

Kanpur traders say posters comparing Modi with Kim Jong-un were not meant to malign prime minister

The police had booked 22 traders after hoardings that read ‘Kim has decided to destroy the world, Modi has decided to destroy business’ were put up in the city.

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· Oct 15, 2017 · 10:53 am

Revisiting demonetisation: ‘Cashless’ village in Maharashtra has returned to cash

Many shop owners in Dhasai have packed up their card swiping machines, citing network issues and lack of cards among customers.

Mridula Chari

· Sep 18, 2017 · 09:00 am

Revisiting demonetisation: In Chennai’s flower market, anger against Modi government is still fresh

Traders have reconciled to their losses but workers are still struggling to recover the wages they lost over five months.

Vinita Govindarajan

· Sep 14, 2017 · 09:00 am

RBI says it is using ‘sophisticated machines’ to check the accuracy of demonetised notes deposited

The central bank’s statement came a day after a report claimed it was not using counting devices to add up the old bills.

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· Sep 11, 2017 · 11:01 am

Revisiting demonetisation: ‘If the notes have come back, why not the lost jobs?’

In Delhi’s largest industrial area, many are still struggling to find work.

Abhishek Dey

· Sep 11, 2017 · 09:00 am

Revisiting demonetisation: Ten months later, Ludhiana's garment hub faces another season of losses

As the slow recovery from demonetisation began, GST struck a fresh blow. Women workers are the worst affected.

Sruthisagar Yamunan

· Sep 09, 2017 · 09:00 am

Revisiting demonetisation: Impact can’t be weighed without considering GST, says fashion firm owner

It’s ten months since Prime Minister Modi announced demonetisation. Despite the hype, it’s clear it was a bad decision.

Jaydeep Shetty

· Sep 08, 2017 · 12:30 pm

Black money back in system after demonetisation put new interest burden on RBI, says Raghuram Rajan

The former central bank governor said people found ways to legitimise their illegal cash after the note ban.

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· Sep 08, 2017 · 09:12 am