Modi

India’s Gold Traders on Edge as Modi Fights ‘Black Money’

By Neha Dasgupta and Swati Verma NEW DELHI/BENGALURU, Nov 16  – Some Indian gold traders are placing bulk, short-term import orders on fears that Prime Minister Narendra Modi might soon add curbs on overseas purchases of the metal to his withdrawal of high-denomination banknotes in his fight against ‘black money’, traders and jewellers said. India

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India Raises Cap on Bank Cash Withdrawal to Ease Public Anger

(REUTERS) India announced new measures on Monday, November 14, to ease the cash crunch faced by millions after the government’s decision last week to abolish large denomination notes to try and uncover billions of dollars in undeclared wealth. The government will install new micro cash machines across the country and has asked banks to waive

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India to Use Indelible Ink to Ensure People Change Cash Only Once

By Neha Dasgupta and Promit Mukherjee NEW DELHI/MUMBAI, Nov 15 – Indian banks will use indelible ink to ensure that people only change old notes for new ones once under Prime Minister Narendra Modi’s scheme to fight “black money”, resorting to a tactic used to prevent multiple voting in elections. The step comes a week

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Anger Rising in India as Banks Slow to Dispense Cash to Millions

By Sanjeev Miglani and Nidhi Verma NEW DELHI, Nov 12 – Anger intensified in India on Saturday as banks struggled to dispense cash following the government’s decision to withdraw large denomination notes in an attempt to uncover billions of dollars in undeclared wealth. Tempers frayed as hundreds of thousands of people queued for hours outside

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Indian Banks Call in Police as People Rush to Ditch Old Banknotes

By Neha Dasgupta and Rajendra Jadhav NEW DELHI/MUMBAI, Nov 10  – Indian banks called in thousands of police on Thursday to manage huge queues outside branches, as people tried to exchange bank notes abruptly pulled out of circulation by Prime Minister Narendra Modi in a crackdown on “black money”. Modi announced the shock move on

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India’s Shock Bank Note Ban Sparks Cash Chaos

By Sankalp Phartiyal and Neha Dasgupta MUMBAI/NEW DELHI, Nov 10  – Indians struggled to pay for basics goods like food and fuel on Wednesday and fretted about their savings, after the government withdrew 500 and 1,000 rupee notes from circulation in a bid to flush out money hidden from the tax man. The shock measure

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India Abolishes Larger Banknotes in Fight Against Graft, “Black Money”

By Neha Dasgupta and Nidhi Verma NEW DELHI, Nov 8 – Indian Prime Minister Narendra Modi on Tuesday announced that 500 and 1,000 rupee banknotes would be withdrawn from circulation at midnight, saying it was part of a crackdown on rampant corruption and counterfeit currency. The surprise step appears designed to bring billions of dollars

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India’s Modi Expresses Concern Over Australia Bus Death

SYDNEY, Oct 31 – Indian Prime Minister Narendra Modi has expressed concern over the death of an Indian-origin bus driver killed by an incendiary device thrown into his bus in Brisbane, Australia, last week. Modi called Australian Prime Minister Malcolm Turnbull late on Sunday to discuss the death of Manmeet Alisher, 29, who was the

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Op-ed: GOA and BRICS Faultlines

By Waqar K. Kauravi Since the assumption of the Bharatiya Janata Party’s government (BJP) in New Delhi in 2014, India under the Hindu nationalist Rashtriya Swayamsevak Sangh (RSS) activist turned Prime Minister, Narendra Modi, has experimented every tactic to cow down the government’s prime adversary Pakistan. Unlike in the past, India’s nefarious pursuit has witnessed

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