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India going digital, paper clearing at banks falls

India going digital, paper clearing at banks falls

Finance
The Reserve Bank of India data shows the value of paper-clearing transactions fell a fifth from Rs 100 lakh crore in 201213 to Rs 80.9 lakh crore at the end of 2016-17. In the same period, the volume of such transactions fell to 120.6 crore from 131.3 crore. Between 2016 and 2017, the volume of cheque transactions fell by over 11 crore. Paper clearing transactions, which accounted for 82 per cent value of total retail payments in 2011-12, shrunk to 37 per cent in 2016-17. "Paper-clearing transactions have gone down because other modes like NEFT, RTGS, IMPS have climbed up significantly ," said Mrityunjay Mahapatra, DMD, State Bank of India. Paper clearing consists of cheque truncation system, MICR (Magnetic Ink Character Recognition) clearing and nonMICR clearing. The RBI data shows t...
Transfer rumours and paper review – Sunday, July 23: PSG want player swap with Manchester United, Riyad Mahrez favours Arsenal move

Transfer rumours and paper review – Sunday, July 23: PSG want player swap with Manchester United, Riyad Mahrez favours Arsenal move

Sports
talkSPORT.com bring you all the latest headlines and top transfer-related stories in Sunday's newspapers...Manchester United's hunt for £60million Paris Saint-Germain star Marco Verratti has been stopped in its tracks – with the French side demanding Anthony Martial as the deal breaker. (Mirror)Barcelona will test Liverpool’s resolve to keep hold of Philippe Coutinho with an £80million bid. (Mirror)Ligue 1 side PSG are moving closer to smashing the world transfer record by agreeing to pay Barcelona £196million for Neymar. (Express)But the Catalan club’s board believe signing Neymar’s Brazil team-mate Coutinho could help prevent him from leaving for the French capital. (Daily Mail)Arsenal manager Arsene Wenger has denied that Alexis Sanchez is on the verge of a £70m move to PSG. (Evening St
Transfer rumours and paper review – Sunday, 16 July: Sanchez discusses future, plus Chelsea move for Higuain

Transfer rumours and paper review – Sunday, 16 July: Sanchez discusses future, plus Chelsea move for Higuain

Sports
Here's the best of the gossip on Sunday...Chelsea have had an £88m bid for Juventus striker Gonzalo Higuain turned down.(Tuttosport) Talks about a new contract for Antonio Conte have reportedly stalled, leading to concerns about the Chelsea manager’s future. (Sun on Sunday)Real Madrid are considering selling 27-year-old forward Gareth Bale in order to raise funds to buy Monaco striker Kylian Mbappe. (Sunday Express)However, Mbappe, who has been linked with Arsenal, will stay at Monaco for one more year, according to Arsene Wenger. (Sun on Sunday)Liverpool are expected to make a new bid for RB Leipzig midfielder Naby Keita next week. The Reds have already had a £57m offer for the Guinea international rejected. (Sunday Mirror)Alexis Sanchez said his dream since childhood is to play in the Ch
A new paper rekindles a tiresome debate on immigration and wages

A new paper rekindles a tiresome debate on immigration and wages

Finance
WHAT effect do immigrants have on native wages? It’s perhaps one of the most important questions of labour economics. It's also one that is largely unanswerable. The problem is that it's almost impossible to separate cause and effect. If a country with high rates of immigration also sees strong wage growth, we can’t assume that immigrants are boosting wages—it may well be the case that the migrants are choosing to move to places with stronger economies.One approach to getting around this problem is to find a natural experiment in which either the supply of or demand for labour changes exogenously. Perhaps the most famous example of such an event in labour economics is the Mariel Boatlift. In 1980, Fidel Castro, then president of Cuba, eased emmigration restrictions. Some 125,000 Cubans mov