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Raghuram Rajan: Demonetisation put new interest burden on RBI as people found ways to convert black money

The failure to stop dodgy cash coming back into the banking system after demonetisation has likely burdened the Reserve Bank of India with additional interest payments running into tens of thousands of crores, former governor of the central bank Raghuram Rajan said Thursday. Latest Reserve Bank of India data shows that all but 1% of the high-value bank notes demonetised on November 8 last year have returned to the banking system, meaning black money hoarders found ways to legitimise their cash that now earns interest. Rajan estimates this burden could be as…

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E-Cigarettes Can Reduce Burden of Smoking-Related Deaths in India

Electronic-cigarettes, popularly known as e-cigarettes, provide a third line of option to stay away from harmful effects of tobacco, and can significantly reduce the burden of smoking-related deaths in India, a renowned expert on vaping has said. “The first line option to shield yourself from the toxicity of tobacco products is to quit smoking altogether and the second line of option is to quit with the help of medication,” Konstantinos Farsalinos, from the University of Patras in Greece, told reporters at an event here. Farsalinos, who is a research fellow…

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