Economic activity hit owing to shortage of currency

Economic activities continues to suffer on account of the failure of banking system to pump in enough new currency notes after demonetisation of Rs. 500 and Rs. 1000 notes.

new Rs. 2000 noteSales were diminished in retail markets where much of the sales were based on cash. Even those in possession of the new Rs. 2000 notes could not buy things as retail outlets did not have change. 

Heavy rush to exchange notes

Queue before RBI to exchange notes on ThursdayBanks in Kerala witnessed heavy rush of people to change 500 and 1000 rupee notes, which ceased to be legal tender, on Thursday.
Long queues were seen at Reserve Bank of India and major banks and post offices.  Issue of new notes from Post offices were delayed at several places as currency had not reached them.

Din in the House over disruption of rations

V. T. Balram speaking on his notice for adjournmenet motion in Assembly on Nov. 9Kerala Assembly witnessed noisy scenes and a walkout on Wednesday as the UDF and LDF members wrangled over who was responsible for dislocation of public distribution system.
The wrangling began over an adjournment motion sought to be moved by V. T. Balram (Congress) on collapse of public distribution in four districts. While the Minister for Food and Civil Supplies P. Thilothaman maintained that problem arose from the previous (UDF) government’s failure to take steps for implementation of the Food Security Act and get sufficient quotas of food grains,

Walkouts over opposing demands in Kerala Assembly

Kerala State Cooperative Bank, TrivandrumKerala Assembly saw two walkouts to press for opposing demands on Tuesday.

Opposition United Democratic Front and Kerala Congress (M) walked out demanding that government should withdraw from move to dissolve district cooperative banks.

Independent member P. C. George staged a walkout demanding the district cooperative banks should be disbanded.

KIIFB approves 48 projects costing Rs. 4000 cr

Finance Miinister Thomas Isaac and ACS K. M. AbrahamThiruvananthapuram: The Kerala Infrastructure Investment Board (KIIFB) has approved 48 projects costing Rs. 4004 crores at its meeting here on Monday.

Finance Minister T. M. Thomas Isaac said that funds for this would be mobilised as general obligation bonds. Initially, only Rs. 2000 crores needed to be raised for starting the projects.


Subscribe to RSS - News