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Cash transactions News
Be Aware! Real Estate, Firms careful in dealing with cash ahead; CBDT warns with new rules
Sun, Jun 24, 2018
The Narendra Modi government has been pushing digital payments for quite some time now, especially since the time of demonetisation announcement.
Indians are more trusting of social media sites than others world over
Mon, Oct 16, 2017
Majority of Indians are not particularly concerned about their digital privacy yet. While those in the developed nations are facing a 'trust divide' with their personal data and social media sites.
Adoptions rise but mobile wallets still less than 1% of all digital transactions
Fri, Aug 25, 2017
Mobile wallets that were glorified during the demonetisation era were just 1% of overall value transactions in FY17.
Every citizen can combat against black money: PM Modi
Sun, Mar 26, 2017
Modi said that with a firm resolution India can see 2.5 crore digital transactions within next six months rather than waiting for a year.
Govt removes 1% TCS on cash purchase above Rs 2 lakh
Thu, Mar 23, 2017
The government has done away with the 1 % tax on cash payments of over Rs 2 lakh for purchase of any goods or service after it banned cash dealings above that limit from April 1.
Domestic tractor manufacturers to register 16 to 18% sales growth in FY17: Crisil
Tue, Mar 07, 2017
Crisil Research on Tuesday said domestic tractor manufacturers are projected to record 16 to 18% growth in sales of tractors for FY17 on account of revival of sales due to good monsoon which offset the impact of demonetisation on demand in the second half of the fiscal.
To discourage cash transactions, HDFC Bank & others begin minimum levy of Rs 150 on cash deposits & withdrawals
Thu, Mar 02, 2017
To discourage cash transactions and boost the digital payments, banks like HDFC Bank and others have started charging a minimum amount of Rs 150 per transaction for cash deposits and withdrawals beyond four free transactions in a month.
Banks look to charge withdrawals as cash crunch eases
Thu, Mar 02, 2017
Prime Minister Narendra Modi-led Government is foucssed on making India a less-cash society. In this bid, the government has taken many initiatives to promote digital currency and dissuade citizens from using cash. The latest step in this direction is banks charging customers for withdrawing their own cash.
10 lakh bankers go on strike today; will your salary credit be affected?
Tue, Feb 28, 2017
About 10 lakh bankers have observed one-day strike across India on Tuesday to protest against the government's "anti-people banking reforms" and to press their demands to the government for compensation for the extra work done during the demonetisation period.
Cash no longer king? Swiss National Bank begs to differ
Mon, Feb 27, 2017
The Swiss central bank sought on Monday to allay fears among citizens that bank notes could eventually be phased out as a result of global money-laundering rules or the rise of alternative payment systems.
Tax Dept asks taxpayers to e-verify deposits post note ban
Thu, Feb 02, 2017
As the Income Tax Department uses Big Data to catch evaders, it is asking taxpayers to verify online the deposits they made in their accounts post demonetisation and respond to queries of any mismatch.
Here are key highlights of Union Budget 2017
Wed, Feb 01, 2017
Read the key highlights of India's Union Budget 2017-18 presented on February 1, 2017
Income Tax Department launches Operation Clean Money to verify demonetisation data with tax payers' filings
Tue, Jan 31, 2017
India's Income Tax Department has launched Operation Clean Money on Tuesday to verify deposited demonetised notes with tax payer's IT filings.
From reviving consumption to creating jobs: These are 5 key themes of Modi's Budget 2017
Fri, Jan 27, 2017
Budget 2017 will be based on five key themes right from reviving the capex cycle, rural economy to creating jobs.
Demonetisation drive to favour country's big gold jewellery store chains: World Gold Council
Tue, Jan 24, 2017
India`s drive to bring transparency to bullion trading, along with the rise of branded gold jewellery, could help major retailers raise their share of the world`s second-biggest gold market to 40% by 2020, the World Gold Council (WGC) said.
Digital banking may eat into ATM business
Fri, Dec 02, 2016
According to V. Balasubramanian, President, Financial Software and Systems (FSS), the demand for ATMs is unlikely to be affected in the next couple of years, but "it is not possible to make a growth estimate after two years given the changed situation".
Ensure 100% cashless dealings within 15 days deadline: Ram Vilas Paswan
Sat, Nov 26, 2016
To promote cashless work culture, Food Minister Ram Vilas Paswan on Friday gave 15 days deadline to his ministry officials to put in place a mechanism and ensure there is 100% cashless dealings at all levels.
Demonetisation impact: Car, bike sales to feel the heat
Fri, Nov 11, 2016
Automobile sales could be impacted in the coming month as sales in many rural parts of India was done earlier using cash transactions.
India can save Rs 70,000 crore in five years by reducing cash transactions
Wed, Oct 05, 2016
Today, less than 5% of India’s Rs 75 lakh crores ($1,114.4 billion) consumption expenditure is made using digital payments.