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Less cash economy fails? Currency in circulation zooms 17% in FY19

-PTI Currency in circulation jumped a hefty 17% to Rs 21.10 lakh crore as of March 2019, the Reserve Bank of India said in its annual report for 2019. Mumbai: Despite many an effort to shift to Digital Payments and usher in a ‘less cash’ economy post-demonetisation, the currency in circulation has jumped by a hefty 17% to Rs 21.10 lakh crore as of March 2019, the Reserve Bank says in its...

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A new mandi tax -Harish Damodaran

-The Indian Express A 2 per cent TDS on cash withdrawals beyond Rs 1 crore may hit the farm trade hard. One of the 2019-20 Union Budget’s less-discussed proposals, having significant implications for agricultural trade, is the levy of a 2% TDS (tax deducted at source) on cash withdrawals exceeding Rs 1 crore in a year from any bank account. The levy — aimed at promoting “Digital Payments” and a “less cash...

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Creating a fair Digital Payments market -Padmashree Gehl Sampath

-The Hindu Local firms will be at a disadvantage if big tech companies are given plum roles Since early last year, WhatsApp has busily piloted its payment system in India. WhatsApp Pay relies on the Indian government’s Unified Payments Interface (UPI) system to facilitate inter-bank transactions. Regulatory approval that would allow its nation-wide introduction is stuck on one point: the Indian government has asked WhatsApp to localise all data processing related to...

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A very material shift -Sajjan Kumar

-The Hindu Occupational identities are competing with caste and religious identities in Madhya Pradesh The political mood of the people in Madhya Pradesh is complex. To understand voting behaviour only through the prism of caste is an outdated method in this State. In fact, occupational identities resonate across caste and religion. Employing the categories of farmers, labourers, government employees, small businessmen, the urban service classes, and so on helps us understand voter...

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Govt announces Rs 10,000 crore connectivity plan for NE states -Pankaj Doval

-The Times of India GUWAHATI: With the national elections just a year away, the government on Saturday announced a mega investment and connectivity programme for the north-eastern states, entailing inflow of nearly Rs 10,000 crore through over 400 programmes expected to be rolled out in the next four years. The investments relate to enhancing the telecom infrastructure in the state, apart from setting up BPOs, boosting electronics manufacturing, giving a push to...

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