cash crunch
Exclusive! On ATM cash crisis, 2600 entities under scanner; govt targets those responsible
Fri, Apr 20, 2018
ATM cash crunch: The FIU has upgraded its FINEX server in recent past, which will help it by sending alerts related to real-time transactions as well as suspicious transactions. In addition, the Income Tax department, which is in action has been raiding and surveying at several states that are suffering from the cash crisis.
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Beat cash crunch at ATMs Rs 2,000 at a time: Here is how
Fri, Apr 20, 2018
To ease the cash crunch at ATMs that has caused pain to the public in some parts of the nation, SBI has launched a new initiative that allows people in smaller towns to withdraw cash through this rarely used method. Check it out:
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Till when will ATM cash crunch last? SBI Chairman Rajnish Kumar gives deadline
Thu, Apr 19, 2018
Cash crunch at ATMs: When asked about his opinion on National Company Law Tribunal (NCLT) working, Kumar said, "We should support it. NCLT is a good process and every new process or law takes time to stabilise. Every capitalist economy should have an Insolvency and Bankruptcy code." He added that in our country the law has been enacted a bit late and is taking its time to stabilise.
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ATM cash crunch: This is whom govt is blaming for currency crisis
Wed, Apr 18, 2018
To meet the unprecedented demand, the government is planning to step up supply of cash in the banking system. RBI, which used to print Rs 500 crore to Rs 2,500 crore worth of 500-rupee notes every day, will now be printing Rs 7,000 to Rs 7,500 crore to meet the rising demand. The fivefold jump in printing Rs 500 notes comes after economic affairs secretary Subhash Chandra Garg said that the government suspects that Rs 2,000 notes are being hoarded as they are not coming back into the circulation fast enough.
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ATM currency crisis: What is to blame? Huge withdrawals in Telangana, Andhra, Karnataka
Wed, Apr 18, 2018
The total requirement of paper currency is 25,000 tonnes but that has not been met, sources said. The Centre has not attributed any particular reason for the cash dearth as ATMs dried up in many parts of the country and said it’s a temporary problem. “Overall there is more than adequate currency in circulation and also available with the Banks. The temporary shortage caused by ‘sudden and unusual increase’ (in demand) in some areas is being tackled quickly,” Finance Minister Arun Jaitley said in a tweet.
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Cash crunch at ATMs hits public, government vows to print more notes
Tue, Apr 17, 2018
In a bid to tackle the "unusual" currency demand, the government has also decided to increase printing of Rs 500 notes by five times. Taking stock of the situation the Reserve Bank of India (RBI) said there is sufficient cash in the RBI vaults and currency chests.
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Demonetisation type cash crunch hits ATMs; Arun Jaitley reacts, says shortage temporary
Tue, Apr 17, 2018
Demonetisation type cash crunch hits ATMs: West Bengal Chief Minister Mamata Banerjee said it reminds her of the demonetisation days. She wondered if a "financial emergency" is going on in the country.
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Individuals have to disclose cash payments over Rs 2 lakh made for loans, card payments in new ITR form
Mon, Apr 10, 2017
Individuals will have to disclose all cash payments of over Rs 2 lakh made for paying loans and credit card bills during the 50-day period post demonetisation in the new Income Tax Return (ITR) form.
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Nearly 90% banks delayed payments to ATMs; cash logistics firms await unpaid bills of Rs 110 crore
Thu, Apr 06, 2017
Liquidity crunch at ATMs has sparked the memory of demonetisation days however cash logistics firms allege that in the process of recalibration, unpaid bills from banks has amounted to Rs 110 crore, a report by The Indian Express said on Thursday.
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Under pressure, Snapdeal woos staff with promises of profit
Tue, Apr 04, 2017
Seeking to calm employees rattled by reports of a cash crunch, the founders of Indian online retailer Snapdeal have gone directly to them with a string of townhall meetings in past weeks, according to sources, promising profit and brushing off takeover talk.
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Demonetisation Impact: Finova Capital targets to disburse loan worth Rs 100 crore to MSMEs in 2017; plans to recruit 500 people in 2 years
Thu, Mar 16, 2017
Demonetisation has worked as a blessing in disguise for us as we collect 100% repayment through Automated Clearing House (ACH) mode and not through cash, Finova Capital managing director and chief executive officer, Mohit Sahney told Zeebiz.com.
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