Arun Kumar

Arun Kumar

Arun Kumar, Malcolm S Adiseshiah Chair Professor, Institute of Social Sciences, New Delhi and author of ‘Indian Economy’s Greatest Crisis: Impact of the Coronavirus and the Road Ahead‘.
  • Articles: 0

Adani – Hindenburg Report : Epitome of Loopholes in Indian Democracy

The Supreme Court of India appointed Committee (Expert Committee (EC)) on
the Adani-Hindenburg issue submitted its Report on May 9, 2023. It
disappoints because it chose not to go deeper into issues that hold back the
nation from achieving its full potential. It hides behind the technicality of
Securities and Exchange Board of India (SEBI) following the currently applicable
rules that prevent it from investigating the real issues raised in the Hindenburg
Report. Therefore it concludes that there was no regulatory failure.

₹2,000 notes: Another Costly Mistake

The Reserve Bank of India’s (RBI) announcement of withdrawal from circulation of the ₹2,000 currency notes has caused much incredulity. Tamil Nadu Chief Minister M.K. Stalin quipped, “500 doubts, 1,000 mysteries and 2,000 blunders”, and Rajya Sabha member P. Chidambaram said, “Demonetisation has come full circle”. The Union government has distanced itself from the decision by letting the RBI announce it.

The Withdrawal of Rupees 2000 Notes: A New Mini-Demonetisation in India Soon

In a sudden though not unexpected move, currency notes of the denomination Rs 2,000 are being withdrawn from circulation. This is announced via a notification released by the Reserve Bank of India and not the government (as at the time of demonetisation). These notes are not being withdrawn from circulation, but actually, they will stop circulating right away given that they will have to be deposited in a bank or exchanged for lower denomination notes.

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