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As the US retail major <keyword id="80487" type="COMPANY" weightage="80" keywordseo="walmart">Walmart</keyword> returns focus on India after a gap of two years, it is now eyeing the cash-and-carry business in the country in order to strengthen its base.
 The biggest foreign retailer is planning to come up with a new cash-and-carry store in <keyword id="6356295" type="COMPANY" weightage="60" keywordseo="Agra">Agra</keyword>. Earlier in 2012, the company had opened its last store in <keyword id="6355556" type="COMPANY" weightage="80" keywordseo="bhopal">Bhopal</keyword>. 

	“Walmart is committed to India and we are focused on our growth plans… We have recently received all internal approvals for opening a new store in Agra, our second one in the city. Our team is currently working towards procuring all relevant licences and permits to have it up and running in due course in the coming year,” Walmart spokesperson told PTI.
 

	Across nine Indian states, Walmart runs 20 cash-and-carry stores under brand Best Price. The company had earlier made an announcement to come up with 50 wholesale stores in the next 4-5 years.
 

	Walmart, which operates B2B e-commerce platform in four cities in India — Lucknow, Hyderabad, Guntur and Vijayawada, will also extend its online platform in all its stores in 2015. “We plan to extend our B2B eCommerce initiative in all our stores in a phased manner in the year 2015,” Walmart said.
 In October last year, the company had pulled down the curtains on 6-year partnership with <keyword id="117954" type="CITY" weightage="60" keywordseo="Bharti-Enterprises">Bharti Enterprises</keyword>, and decided to operate stores independently in India. 
	(Image: Walmart Media Relations)

Walmart To Open Cash-and-carry Store In Agra

New Delhi, Apr 14 () Germany's Metro Cash &amp; Carry on Tuesday said the lockdown will have financial impact on its Indian operations, but its focus will be to ensure there is no shortage of food and grocery supplies to kirana stores.Hailing the government''s decision to extend the lockdown till May 3, Metro Cash &amp; Carry India MD and CEO Arvind Mediratta told in an e-mailed interview that social distancing is the most essential thing to follow in the current situation and the company will continue abiding by all advisories."The lockdown has impacted the economy adversely and that is a fact, and like every sector this crisis will impact the company financially. However, we are focusing all our efforts in serving the nation by ensuring Kiranas who provide 90 per cent of our daily essentials have access to all necessary products," he said.Mediratta was responding to a query on the financial impact of the lockdown on the company."We are prioritising on maintaining a seamless supply chain system so that there is no shortage of food and grocery. At this point of time, as a wholesaler, adequate supply of essentials coupled with safety and hygiene of customers and employees is of utmost importance for us," he added.Commenting on the plans charted by the company for the extended period of the lockdown, Mediratta said,"In terms of preparing further ahead- we are ensuring three important aspects of our business are being taken care of -- employees, customers and store supplies."Metro will continue "motivating and incentivising employees to come to work and help our communities get supplies of daily essentials," he said, adding the company would also continue implementing stringent safety and hygiene measures for its customers, staff and employees."Most importantly, we will focus all our efforts in ensuring all our customers, especially the Kiranas get adequate supplies of essentials. In order to strengthen our efforts and enable easy access of daily essentials, we recently launched our E-Commerce app that we can easily cater to a wider base of Kiranas."We are closely working with our supplier partners for supplies. We have amplified our own brand production as well. We are also working to build our supplies to suffice huge requirements we are receiving from various NGOs," Mediratta said.Two weeks prior to the lockdown, metro had worked out a list of essential items required by customers mainly hand wash, hand sanitizers, soaps, baby and hygiene products, FMCG Food, key commodities items and essentials, to prioritise purchase from suppliers and the items were purchased."Whilst the supply ecosystem was so dynamic for over 5 weeks, we continuously evaluated the purchase plans and adapted to the changing supplies in the market every day, to keep high availability of essential items in our stores where many other trade channels went dry on stocks," Mediratta said.Metro Cash &amp; Carry, which entered the Indian market in 2003, currently operates 28 wholesale distribution centers in cities.The Prime Minister on Tuesday announced the extension of the lockdown till May 3. India is presently going through an unprecedented complete lockdown from March 25 to prevent the spread of coronavirus.According to the latest report from the Union Health Ministry, the total number of COVID-19 cases has increased to 10,363 and the death toll is now 339. KRH RKL BALBAL

Lockdown to impact Indian operation but focus on providing goods: Metro Cash & Carry

New Delhi, Mar 30 () German wholesaler Metro Cash &amp; Carry on Monday asked for a "uniform policy" to be followed by state governments in India for operating stores during the lockdown imposed in the wake of coronavirus pandemic. The company's arm Metro Cash &amp; Carry India said as of now it has adequate stocks of all necessary items, but is still grappling with local authorities in several states over working hours and visits by customers to its stores. Besides, availability of manpower for smooth operation is also an issue as only around 40 per cent manpower is available to operate its cash and carry format wholesale stores. "There should be uniformity in the policy across the states. Even within the same state, there should be the same policy across the cities," Metro Cash &amp; Carry India MD &amp; CEO Arvind Mediratta told . He further said, "While there is clarity from the Centre, at the state level there are a lot of challenges." Out of 28 stores which Metro Cash &amp; Carry operates in India, the company is facing 'severe restrictions' imposed by local authorities at eight stores in cities like Amritsar, Jalandhar, Lucknow, Meerut, Surat, Indore, Vijaywada. "In three stores we are allowed to open only till 12 noon to 1 pm in the afternoon and some places, we are only allowed to deliver kirana (groceries)," he said. Mediratta further said, "In some states like Maharashtra, Delhi and even in cities like Bengaluru, we are allowed to operate stores 24 hours. On the other hand there are states like Andhra Pradesh, MP and Punjab where there are restrictions. There should be uniformity across the states. Even within the same state, there should be the same policy across the cities." In Zirakpur in Punjab, stores are opened for walk-in customers and delivery, while in Amritsar and Jalandhar in the same state, the company is permitted to deliver within fixed hours only, he said. Similarly, in UP, the stores are not allowed to open in Lucknow, but there are no restrictions in Ghaziabad. "I do not know how the government have different policies within the same state," he said, adding "every day the notification keeps on changing also." On manpower shortage, he said there is a "serious impact" because of lesser availability of the staff, which is down to 40 to 45 per cent. "This is not adequate to run a store, we need at least 60 to 65 per cent staff. We are working at curtailed hours," he said, adding "this is certainly affecting our operations". Metro Cash &amp; Carry India is now operating stores only in one shift for eight to nine hours, he added. Commenting on supplies, Mediratta said, "Now we have enough supply. We have received stocks on Friday, Saturday and Sunday and there is no major problem right now. "There were some problems on the first two days of the lockdown as trucks were stopped and not allowed to cross borders, including those trucks with essential items. Then we had a meeting with Minister of Commerce Piyush Goyal and after that it was shorted out. Things are beginning to flow now." The only areas about which the company has some concerns are pulses and edible oil to some extent, he said. KRH RKL RVK

Lockdown: States should have one uniform policy for operation of stores, says Metro Cash & Carry

New Delhi, Feb 23 () German wholesale retailer Metro Cash &amp; Carry is gearing up for expansion in India with the addition of five new stores this year and also plans to accelerate its e-commerce play and partnership with kirana stores, according to a top company official. The wholesale retailer, which has registered profits in the last two years in India, has so far partnered with 2,000 kirana stores in Bengaluru, Hyderabad and Delhi, offering them complete end-to-end retail solutions. "The company thinks India is a big growth market. The opportunity for growth in India is huge in both physical stores and e-commerce," Metro Cash &amp; Carry India Managing Director and CEO Arvind Mediratta told . As part of expansion plans, he said, "we have five stores coming up this year in Karnataka, Andhra Pradesh and Telangana." Metro Cash &amp; Carry currently has 27 cash and carry stores in India in 17 cities. When asked about investments for the new stores, he declined to comment but said besides the new physical stores, the company has also been focussing on its partnership with local neighbourhood stores through its 'Smart Kirana Programme'. The whole idea is how to make a kirana store smarter in terms of usage of technology, by running business more efficiently, targeting more customers using data analytics, drive more customer traffic and make it more successful and profitable, he added. "We believe in helping kiranas in increasing their sell-out, not just sell to them because if their sell-out improves, and if they think Metro can help increase their sell-out, we automatically become their preferred supplier," Mediratta said. The company has provided point of sale (PoS) devices, which come with a Metro app to kirana owners through which they can order items from Metro online, get daily sales and profit report while also track top customers, the most selling articles and slow moving items. The device also allows them to accept debit/credit cards and accept wallet payments, which offer customer cashbacks and other offers. It enables passing on of such benefits to the end customer, he added. "The programme is working well and we believe we now have enough results and have got approval from our global board to expand this programme and take it national. We are now already in the process of scaling it up," he said. For scaling up its Smart Kirana Programme, Mediratta, said the company is taking it one step at a time. "Our idea is to first saturate Bangalore, Hyderabad and Delhi before you enter newer cities. You get better returns on investment if you do one market and do it really well, this is one of our big learnings when it comes to profitability. Strengthen your dominance wherever you are," he said. Metro has partnered with Paytm in Delhi and MSwipe in the rest of the country for digital payments while it has also roped in ePayLater which not only offers credit to kirana stores but also to their end-customers enabling them to shop at specific stores, Mediratta added. Stating that Indian retail landscape is changing with new-age online players both in business-to-business (B2B) and business-to-consumer (B2C) investing a lot of money, including on pricing which has put a lot of pressure on local kirana stores. In order to help the small stores keep up with the changes, he said Metro is also helping the kirana owners remodel their stores and convert old closed-loop stores into an open format modern store where customers can come inside and shop thereby increasing customer traffic and impulse buying. "What we are tying to do is organise loans for these kiranas for remodelling, because it can cost from Rs 75,000 to Rs 2 lakh and the remodelling operations takes only 48 hours," Mediratta said. RKL DRR

Metro Cash & Carry to open 5 new stores in India this year, enhance partnership with kirana stores

<keyword id="6372175" type="COMPANY" weightage="100" keywordseo="WalMart-India">Walmart India</keyword>, wholly-owned subsidiary of US-based <keyword id="152177" type="COMPANY" weightage="100" keywordseo="WalMart-Stores">Walmart Stores</keyword>, is headed towards a massive expansion move with its plans to to add 50 more cash and carry stores in four to five years, saying it continues to focus on B2B segment in the country. "In addition to our existing 20 cash-and-carry stores in India, Walmart plans to open 50 more cash-and-carry stores in the next four to five years...While growing our India business, we will continue to invest on supply chain infrastructure and supplier development, especially helping the growth of small and medium manufacturers in India," <keyword id="193561" type="PERSON" weightage="100" keywordseo="Rajneesh-Kumar">Rajneesh Kumar</keyword>, Vice President and Head Corporate Affairs Walmart India said. 

	On entering B2C segment in India, Kumar said the company would continue to focus on the existing business segment. "We are very pleased with our current business and remain focused in growing this B2B business," he said. 
 "As an B2B business model, Best Price Modern Wholesale stores sell products to businesses only. The current Foreign Direct Investment (<keyword id="44528" type="ORGANIZATION" weightage="100" keywordseo="FDI">FDI</keyword>) guidelines allow 100 per cent FDI in B2B wholesale Cash &amp; Carry business. 

	We are extremely pleased with the focus of both the Centre and states on ease of doing business. This is not only helping in conducive investment climate, but also helps us to continue adding local jobs and contributing to the growth of the nation," he said in a statement issued here. 
 

	Walmart India operates 20 Best Price wholesale stores in nine states across the country. It opened its first store in Amritsar in May 2009.

	 
	 
	(Image credits: Indiatimes)

Know all about Walmart’s great expansion plans in India

The majority of Americans carry a small amount of cash, which <a href="https://intelligence.businessinsider.com/payments/charts?utm_source=House&amp;utm_medium=Edit&amp;utm_term=P-CashChart-1&amp;utm_content=link&amp;utm_campaign=BIIMobile" onclick="this.href = this.href + '-' + window.location.search.substr(1).replace(/\&amp;|\=/g, '-');">BI Intelligence</a> believes could be very good news for <a href="http://www.businessinsider.com/the-quest-to-kill-cash-new-apps-are-finally-getting-people-to-abandon-the-atm-2014-5">mobile peer-to-peer payments apps</a>. 
<ul>
<li>Forty percent of Americans say that they carry less than $20 in cash. </li>
<li>Nearly 70% say that they carry less than $50 in cash. </li>
<li>Nine percent say they don't carry cash at all.</li>
</ul>
The data comes from telephone (landline and mobile) interviews of 1,002 adults living in the continental U.S., conducted by Princeton Survey Research Associates International on behalf of Bankrate.com. 
<a href="https://intelligence.businessinsider.com/payments/charts?utm_source=House&amp;utm_medium=Edit&amp;utm_term=P-CashChart-1&amp;utm_content=link&amp;utm_campaign=BIIMobile" onclick="this.href = this.href + '-' + window.location.search.substr(1).replace(/\&amp;|\=/g, '-');">For full access to all BI Intelligence's charts and analysis on the payments industry, sign up for a free trial.</a>
<div class="KonaFilter image-container"><div class="image">BII</div></div>

CHART: Over Two-Thirds Of Americans Carry Less Than $50 In Cash

It's not just the common man, but even the IITs are bearing the brunt of Modi’s <keyword id="3315394" type="UNKNOWN" weightage="20" keywordseo="demonetisation">demonetisation</keyword> move. According to sources, the cash crunch has affected the maintenance work on the campuses. 
 
There are 23 IITs in the country. A number of them incur an expenditure of over Rs 1 lakh every day while the government has fixed the weekly withdrawal limit at Rs 50,000. 
 
These premier institutes claim they are conducting conferences and workshops on a daily basis which are attended by thousands of students and faculty members. These are fixed in advance and they are likely to get affected due to the restriction on cash withdrawal. 
 For this reason, several IITs including <keyword id="6364832" type="COMPANY" weightage="20" keywordseo="IIT-Kharagpur">IIT Kharagpur</keyword> have approached the <keyword id="51613" type="ORGANIZATION" weightage="20" keywordseo="hrd-ministry">HRD ministry</keyword> seeking relaxation from the cash withdrawal limit norm stating that they have to spend a substantial amount on maintenance of their huge campuses on a daily basis, and they are not being able to do so. 
 “We are a community of 20,000 people on campus. There are 40 academic units at <keyword id="6354859" type="COMPANY" weightage="20" keywordseo="IIT">IIT</keyword> Kharagpur. The institute needs close to Rs 2 lakh in cash to carry out various functions. We are not used to operating completely in a cashless manner. Till we make that transition, we have requested the ministry to relax the withdrawal embargo,” an official of IIT Kharagpur told Indian Express. 
 The IITs have also urged the HRD ministry to take up the issue with the <keyword id="47209" type="ORGANIZATION" weightage="20" keywordseo="Finance-Ministry">finance ministry</keyword>. 
 
Sources said that the HRD Ministry may soon write to the Finance Ministry to communicate the difficulties being faced by universities and institutes and their need for more cash to carry out their administrative functions.

Even the IITs are affected by Modi's demonetisation move

<div class="KonaFilter image-container display-table"><div><div class="image on-image">Reuters/Tom Brenner</div></div></div><ul class="summary-list"><li>US President Donald Trump told reporters Wednesday that he carries cash in his back pocket instead of a wallet. </li><li>An eagle-eyed photographer snapped a shot of the president's pocket money as he was boarding Air Force One at Moffett Federal Airfield in Mountain View, California Tuesday.</li><li>In response to queries about the wad of cash, Trump said: "I don't carry a wallet because I haven't had to use a credit card in a long time."</li><li><a href="https://www.businessinsider.com/?hprecirc-bullet">Visit Business Insider's homepage for more stories</a>.</li></ul>US President Donald Trump on Wednesday told reporters that he doesn't carry a wallet because he hasn't "had to use a credit card in a long time" and instead keeps a wad of cash in his back pocket. Washington-based photo journalist Tom Brenner caught a sneaky shot of Trump as he boarded Air Force One in California on Tuesday.Wind blew Trump's suit jacket as he was climbing the stairs of the jet, revealing what appeared to be a stash of $20 bills in his back pocket. Read more: <a href="https://www.businessinsider.com/trump-signed-border-wall-otay-mesa-california-2019-9">Trump signed his $147-million replacement border wall with a Sharpie</a>At a <a href="https://publicpool.kinja.com/subject-out-of-town-pool-report-23-trump-gaggle-1838238196">press gaggle</a> on Wednesday, curious reporters asked the president why he kept his cash in such a precarious place. "Do you carry cash in your back pocket?" a reporter asked. "I do! I do!" he responded, pulling out a "large wad of cash" from his back right pants pocket, according to Pool reportTrump explained that he hadn't used the cash "in a long time," but likes to carry "a little something" for tipping hotel staff. "I do like leaving tips to the hotel. I like to carry a little something. I like to give tips to the hotel. I'm telling you, maybe a president's not supposed to do it, but I like to leave a tip for the hotel."He also said he prefers not to carry a wallet at all. Trump was in California for a two-day trip to raise money for his 2020 reelection campaign.He capped off the visit to the US-Mexico border wall and <a href="https://www.businessinsider.com/trump-signed-border-wall-otay-mesa-california-2019-9">signed the $147 million replacement wall in Otay Mesa, California with a sharpie</a>, calling it "amazing." <div class="margin-top"> <h3>NOW WATCH: <a href="https://www.businessinsider.com/reporter-luke-harding-explains-life-under-fsb-surveillance-2017-12">A reporter who lived in Russia for 4 years reveals what it was like being stalked by Russian spies</a></h3> <div> </div> </div>

Trump carries a wad of cash for tipping people in his back pocket instead of a wallet

<div class="KonaFilter image-container display-table float_right"><div><div class="image"><a href="http://www.flickr.com/photos/wonderlane/5790492353/sizes/l/">Wonderlane/flickr</a></div></div></div>Apparently the latest fad is to do all your spending in cash.
One of our contributors <a href="http://www.businessinsider.com/paying-in-cash-changed-my-life-2014-1">recently chronicled how</a> debt-riddled 20 and 30 somethings turned around their lives by moving to a cash-only existence. 
Plus, <a href="http://www.nytimes.com/2014/02/03/business/newly-wary-shoppers-trust-cash.html?partner=rss&amp;emc=rss&amp;smid=tw-nytimes&amp;_r=1">as the New York Times' Hilary Stout reports</a>, many are also now contemplating switching to an all-cash diet after high-profile cyber thefts at major retailers like Target
But there are at many reasons why cash is bad and we should be eager for everyone to stop using it.
Here they are:
#1 Cash is expensive
Cash costs the economy $200 billion, <a href="http://fletcher.tufts.edu/CostofCash/~/media/Fletcher/Microsites/Cost%20of%20Cash/CostofCashStudyFinal.pdf">according to Tufts professors Bhaskar Chakravorti and Benjamin Mazzotta. </a>For an individual this mostly comes in the form of fees and opportunity costs. For businesses it mostly comes in the form of theft. And for government this mostly comes in the form of lost tax revenue.Here's their breakdown:
<div class="KonaFilter image-container"><div class="image"><a href="http://fletcher.tufts.edu/CostofCash/~/media/Fletcher/Microsites/Cost%20of%20Cash/CostofCashStudyFinal.pdf">Fletcher/Tufts</a></div></div>
We'll dig more into these figures more closely as we go down. 
<h2>#2 Cash is inconvenient</h2>
On average, the Tufts researchers found, Americans waste 28 minutes a month traveling to an ATM, or 5.6 hours a year. Much of that time would likely have been spent on leisure. But at the mean wage, that means $31 billion lost annually. "...It is indicative of just how much time in the aggregate is spent managing currency," the Tufts professors write.
<h2>#3 Cash is dirty</h2>
Researchers from Wright Patterson Medical Center <a href="http://abcnews.go.com/Health/story?id=117433">recently asked 68 shoppers</a> at a grocery store to swap out dollar bills they were holding with clean ones. They got the following results:
<ul>
<li>87% were contaminated with bacteria that could cause an infection in anyone with a compromised immune system, such as people with HIV or cancer.</li>
<li>7% had bacteria that could cause an infection in perfectly healthy people.</li>
<li>Only 6% were completely clean</li>
</ul>
<h2>#4 Using an ATM is like going to a public bathroom</h2>
In 2011, British researchers <a href="http://www.telegraph.co.uk/health/healthnews/8250930/Cash-machines-as-dirty-as-toilets.html">compared the two and found</a>, "the ATM machines were shown to be heavily contaminated with bacteria; to the same level as nearby public lavatories." 
<h2>#5 Cash is dangerous</h2>
Yes, there's the hacking thing. But Tufts' Chakravorti told us that the odds of your specific account getting hacked remain negligible. On the other hand, he says, the more cash you carry, the greater the risk of losing or misplacing it.
<h2>#6 Cash facilitates crime</h2>
A 2012 University of Chicago study <a href="http://journalistsresource.org/studies/government/criminal-justice/go-where-money-modeling-street-robbers-location-choices">confirmed</a> robberies were more concentrated around places that did most of their business in cash.
<h2>#7 There are physical limits on going cash only</h2>
Chakravorti points out there are limits on how much you can withdraw from an ATM. Plus the more money you're carrying, the more cumbersome it is to hold it. "You don't want to be carrying a bag of money into Best Buy to buy a flat-screen TV ," Susan Grant, the director of consumer protection at the Consumer Federation of America, told the Times' Stout. "People shouldn't have to resort to that for peace of mind."
<h2>#8 You can't order stuff online with cash</h2>
If you love inconvenience, cash is your guy. Plus it is much easier to keep track of purchases by paying with credit cards, as you don't have to manage a bunch of paper receipts. 
<h2>#9 Businesses lose tons of money to cash theft each year</h2>
U.S. stores lose $40 billion dollars to cash theft.
<h2>#10 Cash is expensive to protect </h2>
The cost of mitigating that above number runs to 0.46% of a business' average gross sales.
<h2>#11 Cash enables tax evasion</h2>
Conservatively, the Tufts professors say, studies have shown the government loses $100 billion annually in foregone tax revenue from cash transactions.
<h2>#12 You can't build up a credit score with cash</h2>
Credit cards can get you into debt. But they're also basically the only way you'll ever be able to get a loan in the first place. This is perhaps the most immediate benefit. 
<h2>#13 Cash is discriminatory</h2>
The Tufts researchers found that those without access to financial instruments pay on average about $3.66 per month in fees than those that do have access, and are nearly 4 times as likely to face fees. African Americans are more than twice as likely, as measured by the logit coefficient (2.2) to pay for access to cash. "The costs of cash are disproportionately borne by poorer people who have less access to banking," Chakravorti told us.

13 Reasons Why Cash Is Awful

<ul class="summary-list"><li><keyword id="24349" type="COMPANY" weightage="60" keywordseo="Hong-Kong">Hong Kong</keyword> Chief Executive, <keyword id="2463718" type="PERSON" weightage="60" keywordseo="Carrie-Lam">Carrie Lam</keyword>, said she has to keep "piles of cash" at home due to <keyword id="421069" type="ORGANIZATION" weightage="60" keywordseo="US-sanctions">US sanctions</keyword>.</li><li>She said: "The government is paying me cash for my salary because I don't have a bank account."</li><li>Lam earns $672,000 per year and is one of the highest-paid leaders in the world, according to the <a href="https://www.bbc.co.uk/news/world-asia-china-55113149">BBC</a>.</li></ul>Hong Kong leader Carrie Lam said that she has to keep "piles of cash" at home since she has no bank account due to US sanctions.In an interview with local English-language TV channel <a href="https://www.facebook.com/watch/?v=484173425894280">HKIBC</a> on Friday, Lam said: "Sitting in front of you is a chief executive of the Hong Kong SAR who has no bank services made available to her."I'm using cash every day for all the things.""I have piles of cash at home. The government is paying me cash for my salary because I don't have a bank account," she said.In June, China imposed a new security law that threatened Hong Kong's autonomy and also made it easier to punish protesters who have been demonstrating against Chinese attempts to impose more state control, the <a href="https://www.bbc.co.uk/news/world-asia-china-55113149">BBC</a> reported.Following the controversial law, The White House applied what are thought to be the toughest sanctions yet on Chief Executive Carrie Lam and 14 other senior city officials, according to <a href="https://www.theguardian.com/world/2020/nov/28/hong-kong-carrie-lam-cash-bank-account-us-sanctions">AFP</a>.The move means any of their American properties can be seized, any US financial transactions criminalized and assets frozen.During her interview, Lam added that she did not want to deter people from serving in a public position and said: "To be so unjustifiably sanctioned by the US government, it's an honor," <a href="https://www.theguardian.com/world/2020/nov/28/hong-kong-carrie-lam-cash-bank-account-us-sanctions">AFP</a> added.The Chief Executive earns $672,000 per year and is one of the highest-paid leaders in the world, the <a href="https://www.bbc.co.uk/news/world-asia-china-55113149">BBC</a> reported.Social media users began posting images comparing their own savings at home to Lam's while others questioned how her salary was transported to her, according to <a href="https://www.channelnewsasia.com/news/asia/hong-kong-carrie-lam-no-bank-account-cash-piles-us-sanctions-13657196">Channel News Asia</a>.In August, the Hong Kong leader told reporters that the US sanctions had caused her a "a little bit of inconvenience" because she couldn't use her credit cards, <a href="https://www.channelnewsasia.com/news/asia/hong-kong-carrie-lam-no-bank-account-cash-piles-us-sanctions-13657196">Channel News Asia</a> added.On Wednesday, Carrie Lam <a href="https://www.insider.com/hong-kong-governments-priority-is-to-restore-constitutional-order-lam-2020-11">said</a> that her urgent priority was to restore Hong Kong's constitutional order and pull its political system out from "chaos" during the annual policy address.

Hong Kong's leader is being paid in cash due to US sanctions. Carrie Lam earns $56,000 a month and says money is now piling up at her house.

<div class="KonaFilter image-container display-table float_right"><div><div class="image on-image">Jonathan Ernst/Reuters</div></div></div>The US Drug Enforcement Agency (DEA) has seized at least $209 million from 5,200 Americans at airports and Amtrak train stations over the past decade, <a href="http://www.usatoday.com/story/news/2016/08/10/dea-travel-record-airport-seizures/88474282/">USA Today reported</a> on Wednesday. The DEA has used an extensive network of travel-industry informants to monitor US travelers - then they pull passengers aside, seize cash and rarely makes arrests, according to the report, citing interviews with current and former DEA agents and court records.<h3><a href="http://www.usatoday.com/story/news/2016/08/10/dea-travel-record-airport-seizures/88474282/">Read USA Today's full report, including some stories of people who got some of their money back here»</a></h3>Drug agents have singled out passengers at nearly every major US airline at the 15 busiest airports in the US and Amtrak trains, based on the reports from employees of airlines and Amtrak who get paid by the DEA, according to the USA Today investigation.The DEA's seizures fall under the common legal practice of "civil forfeiture," which gives the government the ability to seize cash or property that they suspect is tied to a crime even if the owner isn't charged with one. The practice <a href="http://www.businessinsider.com/r-us-attorney-general-bans-asset-seizure-by-local-police-2015-1">has been under fire in recent years</a> due to investigations questioning police motives for seizures and purchases made with those seizures.The DEA surveillance is separated from the established anti-terrorism protocols in effect at US airports now and the operation has been carried out largely without the airlines' knowledge. In 2014, Amtrak's inspector general <a href="http://www.businessinsider.com/dea-paid-850000-lists-2014-8">revealed</a> that drug agents paid a secretary $854,460 over nearly two decades in exchange for passenger information.In most cases, agents and informants stopped travelers for questioning based on whether they were traveling one-way to California, buying tickets with cash, or carrying checked luggage, according to the report.<div class="KonaFilter image-container display-table"><div><div class="image on-image">shutterstock</div></div></div>Thousands of profiled people were rarely formally detained, arrested, or charged, according to the report. Instead, the agents gave the suspected drug couriers a receipt for the cash and let them go without ever charging them with a crime. Of the 87 cases USA Today identified, only two people were suspects charged with a drug-trafficking related crime.Most of the seized cash was reportedly passed on to local police departments that lend officers in the operations."They count on this as part of the budget," Louis Weiss, a former supervisor of the DEA group assigned to Atlanta's airport, <a href="http://www.usatoday.com/story/news/2016/08/10/dea-travel-record-airport-seizures/88474282/">told USA Today</a>. "Basically, you've got to feed the monster."DEA teams used to focus on seizing drugs from traffickers at airports, but when airport security overhauls after 9/11 made airline drug smuggling more difficult, agents started targeting cash. <div class="margin-top"> <h3>NOW WATCH: <a href="http://www.businessinsider.com/penn-jillette-reveals-what-it-was-like-to-work-with-donald-trump-2016-8">Penn Jillette reveals what it was like to work with Donald Trump on 'Celebrity Apprentice'</a></h3> <div> <div> <div class="ooyala-video-player" data-video-autoplay="false" data-video-id="lkY2o1NTE6xShPmvnGaN8SPs8l1aIVEf" data-player-variable="ooyalapopvideo" id="ooyalaplayer_popvideo" style="width:1280px;height:720px"></div> </div> </div> </div>

The DEA has taken in millions of dollars in asset seizures over the past decade

New Delhi, Apr 14 () Retailers on Tuesday assured there is enough inventory to meet the demand during the extended lockdown period, stating they had stocked up in anticipation of such a move from the government to curb the spread of coronavirus pandemic.Future Retail, V-Mart along with wholesale players -- Lots Wholesale Solutions and Metro Cash &amp; Carry India -- said they have been constantly monitoring the dynamic situation in order to ensure there were no supply disruptions of essential items and groceries."Based on sales projections, we have worked with suppliers to ensure that we have healthy stock availability at LOTS for our customers. Our supply chain management is flexible and is constantly evolving as per the rapidly changing scenario," LOTS Wholesale Solutions Managing Director Tanit Chearavanont told .He said the company has been constantly monitoring the situation and have put certain measures in place in anticipation of the lockdown extension."All three stores have leveraged the consumption data and identified patterns to project demand for day-to-day goods in the coming days," Chearavanont said.Additionally, LOTS has also emphasised on regular "shelf replenishment and maximise stock visibility" to aid customers to reduce their shopping time in its stores, he added.Similarly, Future Retail, which runs retail chain in several formats including Big Bazar and EasyDay Club, said it has also anticipated the extension and was planning for availability of products accordingly."We had already anticipated it and were prepared for such an extension. We were planning our supply chain accordingly to meet the essential requirement of the people," said a Future Retail Spokesperson.Though the company is still facing problems in stocking goods due to several constraints and bottleneck in the supply chain, it is able to maintain inventory for its buyers, the spokesperson said.Wholesale player Metro Cash &amp; Carry said it is prioritising on maintaining a seamless supply chain system so that there is no shortage of food and grocery during the extended lockdown period."We are focusing all our efforts in serving the nation by ensuring Kiranas who provide 90 per cent of our daily essentials have an access to all necessary products. We are prioritising on maintaining a seamless supply chain system so that there is no shortage of food and grocery."At this point of time, as a wholesaler, adequate supply of essentials coupled with safety and hygiene of customers and employees is of utmost importance for us," said Metro Cash &amp; Carry India MD &amp; CEO Arvind Mediratta.Commenting on the plans charted by the company for the extended period of the lockdown, Mediratta said, "In terms of preparing further ahead- we are ensuring three important aspects of our business are being taken care of -- employees, customers and store supplies".V-Mart, which operates mainly in tier-II and III cities, said it had also sensed the extension of the Lockdown period and was working in that direction.However, the company also asked the government to help the retail industry as the entire industry is under pressure and has not adequate cash flow because the stores are not operating."The Prime Minister has also asked to take care of the employees and pay them full salary but the retail industry is having the problem of cash flow. It would be difficult to support, if the government does not come out with some relief and support measures," said V-Mart Retail CMD Lalit Agarwal.According to him, the government should compensate retail industry expenses as all the retailers are facing problems on this."All the retailers are under tremendous pressure. The government should also look at this sector as retailers are on a very thin line of cash flow. Retail industry also supports employees of vendors and several manufacturers," he said.The Prime Minister on Tuesday announced the extension of lockdown till May 3. India is presently going through an unprecedented complete lockdown from March 25 to prevent the spread of the virus. KRH RKL BAL

Anticipated lockdown extension, adequate stocks in place, say retailers

The <keyword id="65338" type="ORGANIZATION" weightage="20" keywordseo="Income-Tax-Department">Income Tax Department</keyword> carried out record 586 searches across India since <keyword id="3315394" type="UNKNOWN" weightage="20" keywordseo="demonetisation">demonetisation</keyword> and recovered Rs 2900 crore from different locations. It has just been a month since note ban was announced, wiping out 86% of cash from circulation. 
 
The I-T officials yielded more than Rs 300 crore in cash seizures, Rs 79 crore in new currency notes of Rs 2,000, and unaccounted income of Rs 2,600 crore. 
 
The highest raid carried out was in Tamil Nadu where the officials recovered more than Rs 100 crore in cash in one single search in Chennai. The total cash seizure from Tamil Nadu has been in excess of Rs 140 crore besides gold seizure worth Rs 52 crore. 
 
In Delhi, officials seized Rs 14 crore in cash from a lawyer’s house. 
 
A Bank of Maharashtra branch in Pune revealed that 15 lockers were acquired by one person in August at the bank's Parvati branch. The 15 lockers yielded Rs 9.85 crore in cash - Rs 8 crore in new Rs 2,000 notes and the rest in Rs 100 notes. 
 
A Bank of Maharashtra official on Wednesday said that it allowed the company only two transactions of Rs 50,000 each since November 8. It is not clear if the company has more accounts in other banks and what the source of this massive stash was.

You Searched For "cash and carry" and got 13 results

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Hong Kong's leader is being paid in cash due to US sanctions. Carrie Lam earns $56,000 a month and says money is now piling up at her house.

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