News

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.

Sales 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. 

Banks 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.

Kerala 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,

Kerala 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.

Thiruvananthapuram: 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.