Banking & Financial Services
Income Tax Calculator
New Rs 1000 notes are coming; launch date unclear
Tue, Feb 21, 2017
The government will soon announce new notes of Rs 1,000 denomination but the specific dates for its launch is unclear.
RBI pumped in Rs 9.2 lakh crore worth of new notes so far into banking system: Source
Wed, Jan 18, 2017
The Reserve Bank of India (RBI) has injected Rs 9,20,000 crore ($135.21 billion) worth of new currency notes into the banking system to help replace the notes banned in November, a parliamentary source quoted central bank governor Urjit Patel as saying on Wednesday.
RBI may hike weekly cash withdrawal limit to Rs 40,000: Source
Mon, Jan 16, 2017
The hike in the cash withdrawal limit also comes ahead of the presentation of the annual budget on February 1.
Post demonetisation, consumer demand likely to be normal by April-June quarter of 2017: CII
Fri, Jan 13, 2017
Terming demonetisation as a right long-term decision despite short-term "disruptions", CII President Naushad Forbes has said consumer demand is expected to return to full normalcy in April-June quarter after seeing a 20% fall in the 50-day period after the note ban.
India to see lower GDP growth for two quarters on cash crunch: HSBC
Thu, Jan 12, 2017
India's GDP growth numbers are expected to see a decline of 2% in the third and fourth quarters of the current fiscal, as effective currency in circulation has contracted significantly, says an HSBC report.
Demonetisation or not, new notes were needed anyway: RBI
Wed, Jan 11, 2017
The Government of India's recent demonetisation decision, which grabbed news headlines across media resulting in cash crunch and chaos across the country last year, was in the making since 2014.
Income Tax detects Rs 4,807 crore black income; seizes Rs 112 crore new notes
Sun, Jan 08, 2017
Over Rs 4,807 crore of undisclosed income has been detected while Rs 112 crore worth new notes have been seized by the Income Tax department as part of its country-wide operations against black money hoarders post demonetisation.
Indians line up at banks to deposit savings or see them disappear on last day of exchange on December 30
Sat, Dec 31, 2016
Indians lined up outside banks across the country on Friday, the last day for them to deposit their savings or see them become worthless after large denomination notes were scrapped in a bid to fight corruption.
Demonetisation: I-T dept raids house of Tamil Nadu's chief secretary Rama Mohana Rao
Wed, Dec 21, 2016
Income Tax (I-T) department officials on Wednesday raided the house of Tamil Nadu Chief Secretary P Rama Mohana Rao. "The raids have commenced at Tamil Nadu Chief Secretary`s residence," a senior Income Tax official told IANS.
Here's how much it costs RBI to print new notes of Rs 500, Rs 2,000
Wed, Dec 21, 2016
After the government announced demonetisation of old notes of Rs 500 and Rs 1,000, the Reserve Bank of India (RBI) has fasten up its speed to produce new notes of Rs 500, Rs 1,000 and Rs 2,000 denomination in order to avoid cash shortage into the economy.
New Notes: RBI mystifies with its mixed-up math
Sat, Dec 17, 2016
Either the Reserve Bank of India (RBI) is uncharacteristically cavalier with the demonetisation-related figures it has given out periodically since November 8 or, more worryingly, its number crunchers are getting their math mixed up.
ED arrests 7 middlemen; seizes Rs 93 lakh new notes in Karnataka
Tue, Dec 13, 2016
Unearthing a racket involved in illegal conversion of demonetised notes, the ED has arrested seven alleged middlemen and seized Rs 93 lakh in new currency in Karnataka as part of its money laundering probe.
New Rs 500, Rs 2000 notes: Here are the new features
Tue, Nov 08, 2016
Patel said that RBI was concerned about growing menace of fake Indian currency notes which has been increasing in numbers.
RBI to issue Rs 20 notes with Urjit Patel’s signature
Fri, Sep 16, 2016
Urjit Patel took charge as the 24th governor of the Reserve Bank of India (RBI) on September 5, after serving as the deputy governor since January 2013.