Monthly Archives: September 2017

Has Demonetization Achieved its Stated Objectives?

By Kavaljit Singh | Commentary | September 13, 2017

On August 30, 2017, the Reserve Bank of India released its Annual Report for 2016-17 which revealed that 98.8 percent of scrapped currency notes have come back into the Indian banking system between November 8, 2016 – when the demonetization was announced – and June 30, 2017. This mind-blowing statistics has put a serious question mark over the efficacy of demonetization move because it was anticipated by the government that a large portion of scrapped currency notes…

BRICS: Time to Reset Priorities

By Biswajit Dhar | Guest Blog | September 13, 2017

The Xiamen BRICS Summit held in September 2017 was the ninth since this formation of emerging economies met in Yekaterinburg in June 2009. When the four original members of the formation (South Africa joined in 2011) met in the shadow of the worst economic downturn since the 1930s, there was a huge opportunity before the emerging economies to reshape the post-war multilateral economic governance, which continues to be under the dominating influence of the major economies. This is one…