Five must-read stories—December 9
The stories you can’t miss
"The plan was to introduce it around November 18, but there was a clear sign that it could get leaked," said one person with direct knowledge who, like others interviewed by Reuters, asked not to be named due to the sensitivity of the matter.
Some officials in the finance ministry had expressed doubts about scrapping high-value notes when the idea came up for discussion. They now feel resentment at the secrecy in which Adhia rammed through the plan on Modi's orders. They also say the plan was flawed because of a failure to ramp up printing of new notes ahead of time. Other critics say the Adhia team fell prey to a form of "group think" that ignored outside advice. In the words of one former top official who has worked at the finance ministry and central bank: "They don't know what's happening in the real world." In The Tribune.
"Notebandi ki mar jhel rahen hai (we are suffering because of the cash ban)," said an angry Narayan Ram, 50, resident of Sultanpur village in Samastipur district. He used to work at a cycle factory in Ludhiana and his employer told him to go back home as the facility has been shut for the time being—thanks to demonetisation. Narayan, a father of four, had planned to return home some time in March to join the family at the time of Holi. Now, he doesn't know what colours March will bring; his employer has told him to return only after the situation becomes "normal". In The Telegraph.
India experienced 7% of all terrorist attacks around the world, the fourth highest after Iraq (20%), Afghanistan (14%) and Pakistan (8%). India, in 2015, had fewer terror attacks (797) than only Iraq (2,415), Afghanistan (1,715) and Pakistan (1,008). In IndiaSpend.com.
The RBI announced on Wednesday that an amount of ₹3.81 lakh crore has been supplied to the public as on 6 December. That still leaves a shortage of nearly ₹11 lakh crore in the system, assuming that the amount rendered illegal on 8 November was close to ₹15 lakh crore. In TheQuint.com.
I am scared by the leadership void she has created in my state. I fear for the future of my city. But as I see her last procession to the burial ground, it is a strange love that rises up to my throat. Because I know that person. I know her story. We were in this together. I know her mistakes but I also know her injuries. I know what she had to endure. All I want to do is to hug that 15-year-old girl from Church Park, before she was pushed into the tumultuous world of fame that will eventually consume her and tell her that it will be all be OK. We will all be OK. In TheNewsMinute.com.