by Meera Sanyal
46.‘Macroeconomic Impact of Demonetization’, RBI Report dated 10 March 2017.
47.One basis point is equal to 1/100th of 1 per cent, or 0.01 per cent, or 0.0001, and is used to denote the percentage change in a financial instrument.
48.‘Still scope of rate cut pass-through for borrowers: Das’, Deccan Chronicle dated 5 May 2017, https://www.deccanchronicle.com/business/economy/050517/still-scope-of-rate-cut-pass-through-for-borrowers-das.html
49.‘Demonetisation helped bring down realty prices by 5-10%: Housing ministry’, The Times of India dated 9 November 2017, https://timesofindia.indiatimes.com/business/india-business/demonetisation-helped-bring-down-realty-prices-by-5-10-housing-ministry/articleshow/61569838.cms
50.In a written reply, tabled in the Rajya Sabha on 21 December 2017 by Union minister Hardeep Singh Puri.
51.Commenting on the 1978 demonetization, in his book, Glimpses of Indian Economic Policy: An Insider’s View (Oxford University Press, 2002).
Conclusion
1.During demonetization, I was interviewed frequently on print and TV media for my views. The quote above was published in an interview with the Free Press Journal.
2.The concept of Minimum Government Maximum Governance was first enunciated by Mahatma Gandhi while explaining his ideology of Swaraj. In the run up to the 2014 Lok Sabha elections, PM candidate Modi promised the nation ‘Minimum Government Maximum Governance’, if elected.
Index
A PortLands Initiative (APLI) Mumbai
Aam Aadmi Party (AAP)
ABN AMRO
ACES
Adhia, Hasmukh
Adopengő, Hungarian currency
Aduan, Wanda Engel
Agarwal, Rajesh
agricultural labour
Agricultural Produce Market Committees (APMCs)
Ahmed, Akhlaq
Ahmed, Faizal
Ahmed, Taj
AIESEC
Alam, Taj
Alibaba.com
Alipay Singapore E Commerce Pvt. Ltd.
All-India Federation of Tax Practitioners
All India Manufacturers Organization (AIMO)
Artificial Intelligence
Arun Kumar
Asian Development Bank (ADB) Conference in Yokohama
Asian financial crisis
Assignat
Association of Planters in Kerala
ATMs, recalibration
Augustus, Roman Emperor
Australia: demonetization
automation
Axis Bank
Ayittey, George
Babri Masjid riots
bad loans and non-performing assets (NPAs). See non-performing assets (NPAs)
Balakrishnan, Pulapre
Banco Nacional Ultramarino
Banerjee, Mamata
Bangladesh war
bank
increase in deposits
staff across the country; fall from grace
Bank of America
Bank of Bengal (Bank of Calcutta)
Bank of Bombay
Bank of England
Bank of Madras
Basu, Kaushik
Battuta, Ibn
Bendkule, Yashwant and Hirabai
Bhagwati, Jagdish
Bharatiya Janata Party (BJP)
Bhiwandi Textile Mills Association
Bhuyan, Achyut
Bilpengő, Milliard
black economy
black income
black market
black money and corruption
experience of other countries which demonetized to curb corruption
Blair, Cherie
brassware manufacturers and exporters, impact of demonetization
Buhari, Major General Muhammadu
Bunich, Pavel S.
Burma/Myanmar
Burmese way to Socialism
demonetizations, 1964, 1985, and 1987
Demonetization Act
capital adequacy norms
capital formation
capitation fee
Cash in Circulation
cashless economy
cash-to-GDP ratio
Central Bank of Nigeria
Central Banking System (CBS) 45
Central Board of Direct Taxes (CBDT)
Central Bureau of Investigation (CBI)
Central Pay Commission, 7th
Centre for Monitoring Indian Economy (CMIE)
Chakrabarty, K.C.
Chakravarty, Praveen
Chandrachud, D.Y.
Chandrasekaran, Natarajan
Chao
chaos caused by demonetization
Chaudhary, C.R.
Chernomyrdin, Viktor S.
China: demonetization during the Tang dynasty (618–907 CE)
Chowdhary, Jitender
Clinton, Hillary
Coal Scam
Cold War
Committee on Unorganized Sector Statistics
Committee to Protect Journalists (CPJ)
Common Cause
computerization
Congress
Constantine, the first Christian Roman emperor
constructive politics
Consumer Pyramids Household Surveys (CPHS)
corruption. See black money and corruption
cost of printing new notes
counterfeit notes, counterfeiting
in Australia
in China
in France
in Soviet Union and Russia
credit growth
credit rating agencies
currency chests
Currency in Circulation (CIC)
Currency Note Press, Nashik
current and savings accounts (CASA)
Dabhol Enron power project
daily wage workers, impact of demonetization
dairy and milk producers, impact of demonetization
Darukhana, Mumbai
Das, Shaktikanta
Datta, Devangshu
deaths of people due to standing in queues
Debroy, Bibek
demographic dividend
demonetization
costs
in countries across the world
eight big goals
financial and human costs
logistic challenges
motives behind
potential consequences
pre-2005 high denomination notes
previous experiments
1946
technical demonetization between 1946 and 1978
of coins
1978
report card
successful
when did planning start for
who were the planners
Demonetization Dividend
Department of Economic Affairs (DEA)
Desai, Morarji
Deshmukh, Chintaman Dwarakanath
digital and cashless India, digitization
digital payment networks
Diocletian, Roman Emperor
Direct Taxes Enquiry Committee
dissenting notes
distress and inconvenience, queues
district central cooperative banks (DCCBs)
liquidity crisis
domestic saving, impact of demonetization
domestic savings
Doshi, Bharat N.
Dubashi, Jay
Duggal, Anjuly Chib
Economic Advisory Council
economic growth
economic impact of note ban
economic liberalization
economic mismanagement
economic perils of a Communist state
economic policies
eggs, poultry, fish and meat sellers, impact of demonetization
Election Commission of India (ECI)
Electoral Bonds
Emblems and Names (Prevention of Improper Use) Act
Emergency
Enforcement Directorate
entrepreneurial skills
&n
bsp; e-payment options
Escudo
European Union, demonetization
e-wallets
Excise Duty
Fake Indian Currency Notes (FICN)
fake/counterfeit currency. See counterfeit notes, counterfeiting
family-planning programme
farmers, impact of demonetization
Farooqi, Asad
FEMA law restrictions
FICN Coordination (FCORD) Group
Finacle
Financial Action Task Force (FATF)
financial inclusion
First War of Independence
fixed deposit rates, decrease
Forbes, Steve
foreign investment
Forint, Hungarian currency
France
demonetization during the French Revolution
Germinal Law
Friedman, Milton
G7
Gandhi, Indira
Gandhi, M.K.
Gandhi, R.
Gandhi, Rahul
Gandhi, Shailesh
Garg, Prashant
Gazette of India
geo-political challenges
geo-political events
George V series notes
George VI series notes
Germany: demonetization during the Weimar Republic
Rentenmark Ordinance
Ghana, demonetization
Ghormade, Bandu
Ghosh, Gautam
Ghosh, Soumya Kanti
global recession
Goods and Services Tax (GST)
Network (GSTN)
Gopinath, Captain
Gorbachev, Mikhail
Gowda, Sadananda
Goyal Piyush
GPS nano chips, rumors on
Grindlays Bank
Gross Domestic Product (GDP), impact of demonetization
Gross Fixed Capital Formation (GFCF)
Gross Value-Added (GVA)
Gujarat State Petroleum Corporation (GSPC)
Gulf countries and the Indian rupee
Hali sicca
Harari, Yuval Noah
hawala transactions
Hazare, Anna
HDFC Bank
High Denomination Bank Notes (Demonetization) Amendment Bill
High Denomination Bank Notes (Demonetization) Act
High Quality Fake Indian Paper Currency
Hindu nationalist movement
Hitler, Adolf
household sector, impact of demonetization
human impact of note ban
human trafficking
Hungary: demonetization post-World War II
Hyderabad Currency Act
Hyderabad princely state
hyperinflation
in Germany
in Hungary
in Nigeria
in Soviet Union and Russia
in Zaire
idle savings, forcing into banking system
Idris, Mohammed
Immediate Payment Service (IMPS)
Income Tax Department
income tax returns (ITRs)
income tax raids
India Against Corruption movement
Indian Coinage Act
Indian rupee, a brief history
Indian Statistical Institute (ISI), Kolkata
Indrawati, Sri Mulyani
informal economy, integration into formal sector
Infosys
infrastructural deficits
innovativeness, ix
Insolvency and Bankruptcy Code (IBC)
International Council on Women’s Business Leadership (ICWBL)
International Monetary Fund (IMF)
Inter-Services Intelligence (ISI)
sponsored ‘thousand cuts’ strategy in Kashmir
investment banking
Jack Ma’s Alibaba
Jain, Apurv
Jain Hawala diaries’ case
Jain, S.K.
Jain, Sanjay
Jaitley, Arun
Jalan, Bimal
Jan Dhan Yojana bank account
Jan Sangh
Janaki Raman, R.
Janata Party
Japan: Currency to GDP ratio
Jefferson, Thomas
Jethmalani, Ram
Jhala, Sharda
Jiaozi
jobs, impact of demonetization
Kabila, Laurent
Karmali
Karthikeyan, Ananth
Kejriwal, Arvind
Keynes, John Maynard
Khushwaha, Lallan Singh
Kim Il-sung
Kim Jong-il
Kim Jong-un
King’s Portrait series notes
Kitchen, Helen
Kokkat, John
Kotak Institutional Equities
Kotak Mahindra Bank
Krishnamachari, T.T.
Kumbhar, Ambika
Kutch princely state’s Kori currency
KYC compliant accounts
labour force in informal sector
labour market and employment conditions
Lao Tzu
Lavasa, Ashok
Lazard
leather manufacturers and tanneries, impact of demonetization
Leclercq, Hughes
lending, impact of demonetization
lending rates, decrease
liquidity crisis
Lok Sabha elections
2009
2014
Maharashtra Pollution Control Board
Malti, a woman micro-entrepreneur
Mamballi Nedughadam Fishermen Society
Mandal riots
Mankad, Sudhir
Manmohan Singh
manufacturing sector
Marandi, Basanti
Marginal Cost of Funds Lending Rate (MCLR)
Marks, German currency
Meghwal, Arjun Ram
Micro, Small, and Medium enterprises (MSMEs)
Ming dynasty
Ministry of Statistics and Programme Implementation (MoSPI)
Mishra, Arun
mobile revolution
mobile wallets
Mobutu, General
Modi, Narendra, ix
allegations of corruption against
three main goals
fourth main goal
Moily, Veerappa
monetary policy and economic issues
Monetary Policy Committee
money laundering
Moose, George
Mor, Nachiket
Moreira, Patricia
Mozoomdar, Ajit
M-Pesa
Mukherjee, Pranab
Multi Commodity Exchange of India Limited (MCX)
Mumbai District Central Co-operative Bank
Mumbai Port Trust (MbPT)
Mundra, S.S.
Munna Singh
NAMO App
Napoleon
National Accounts Statistics
National Democratic Alliance (NDA)
National Electronic Fund Transfers (NEFT)
National Intelligence Grid (NATGRID)
National Investigation Agency (NIA)
National Payments Corporation of India (NPCI)
National Spot Exchange Ltd. (NSEL) scam
National Statistical Commission
Naya Paisa
Ne Win, General
Nederlandsche Bank
Nehru, Jawaharlal
New Cloth Market, Ahmedabad
Nichite, Kalpesh
Nigeria, demonetization
NITI Aayog
non-governmental organizations (NGOs)
non-performing assets (NPAs)
Non-Resident Indians (NRIs)
North Korea, demonetization
oil prices
Olofsson, Maud
One97 Communications
One-Rank-One-Pension (OROP) for defence services
operational terror financing
Osmania Sicca
outsourcing
>
Pak Nam-gi
Panagariya, Arvind
Panama and Paradise Papers
Paper Currency Act of 1861
paper currency
in Australia
in China
fake
in France
in the Portuguese territories
Parliamentary Finance
Pashupati Mills, Ahmedabad
Patel, H.M.
Patel, I.G.
Patel, Mukesh
Patel, Urjit
Patra, Michael
Pavlov Reform
Pavlov, Valentin
Pawar, Jagdish
Paytm (Payment Through Mobile)
Pengő, Hungarian currency
Philippines
political donations
pollution and climate change
Pollution Control Board
Port Trust
PortLands, Mumbai
Prajapati, Prem Shankar
Prajapati, Yogesh
Prasad, Ravi Shankar
Prashant Bhushan
Prepaid Instruments (PPIs)
Princely States
exempted from scrutiny and questioning during the 1946 demonetization
and foreign territories, conversion of currencies
property transactions
prostitution
Public Accounts Committee (PAC)
Public Interest Litigation (PIL) against Port Trust
Puri, Hardeep Singh
Qasimi, Sheikha Lubna bint Khalid bin Sultan Al
Qing dynasty
Rabari, Govindbhai
Raghu Raman, Captain
Raipur Iron and Steel Trade Association
Rajan, Raghuram
I Do What I Do
reservations on demonetization
Rajendra Prasad
Rajesh, R.V.
Rajitha K.A.
Rangarajan, C.
Rao, P.V. Narasimha
Real estate in Mumbai
real estate prices
Real Estate Regulatory Authority (RERA) Act
Real Time Gross Settlement (RTGS)
Reddy, N. Sanjiva
Reddy, Y.V.
redenomination or revaluation of currency
Reichsmark
remonetization
Renminbi
Rentenbank
Rentenmark
Reserve Bank of India (RBI)
autonomy
decision-making process
and digital/cashless transactions, 181–82, 186 embarrassment and fall from grace
liquidity management operations
notifications and amendments
policy decisions, about-turns
printing press
professionalism of officials
role of
Reserve Bank of India Act
Right to Information (RTI) Act
Rijiju, Kiren
risk aversion in the banking sector
Rodin, Judith
Rogoff, Kenneth
Rohatgi, Mukul
Roman Empire: demonetization in the third century
Rosenblum, Peter
Roy, Amitava
Royal bank of Scotland (RBS)
