Sat, May 20, 2023
Rs 2,000 withdrawal from circulation: The RBI's announcement on Friday evening that the Rs 2,000 currency note has served its purpose and thus will be withdrawn from circulation left social media platforms in splits, with a string of memes doing rounds on microblogging website Twitter.
Fri, May 19, 2023
BREAKING | Rs 2,000 note to be withdrawn: The RBI will start withdrawing 2,000-rupee notes from circulation. But worry not! The 2,000 note will remain legal tender. You will get a chance to deposit the Rs 2,000 note at the bank, or exchange it up to 10 (Rs 20,000) at a time.
Mon, Mar 20, 2023
The finance minister says banks make assessment of amount and denominational requirements for ATMs on the basis of past usage
Sat, Mar 11, 2017
The report also said the overall business climate should improve with the medium-term positive effects of demonetisation starting to gain traction.
Some important items that have registered high negative growth include 'HR Sheets', 'ship building and repairs', 'sugar', and 'PVC pipes and tubes'.
Fri, Mar 10, 2017
Two-wheelers continue to reel under demonetisation impact as February 2017 saw sales decline by 0.01% decline in comparison to the same month last year.
Thu, Mar 09, 2017
Post demonetisation, in order to boost the government’s vision of cash-less India, MobiKwik had a stated policy of revoking fees on uploading money through credit cards and the company reiterated its policy of continuity.
Wed, Mar 08, 2017
World Gold Council on Wednesday said India's gold demand may go up to 950 tonnes level by 2020 on back of economic growth and greater transparency.
Tue, Mar 07, 2017
India's billionaire club has shrunk by 11 people since the demonetisation last November, while Mukesh Ambani remains the richest Indian with a net worth of $ 26 billion, a study showed today.
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.
From DLF negotiating agreement with GIC Singapore for 40% equity sale to Videocon selling Fort House for Rs 300 crore to Dawat-e-Hadiyah to Mutual Funds (MFs) to give 15 days for exit option to REITs, InvITs investors and much more happenings in India's real estate sector this week.
Rupee, on Tuesday, was trading at Rs 66.64 -- a level previously seen before Prime Minister Narendra Modi's demonetisation drive in the first week of November 2016.
The formal sector also remained surprisingly robust.
During the hearing, the bench observed: "Despite postulations, no individual has been permitted to deposit after December 31, 2016."
Mon, Mar 06, 2017
One of the reasons could be the rise in cash withdrawals since January 2017. RBI data show that people have already started withdrawing cash from their bank accounts in large numbers which has led to slowdown in digital transactions.
Sun, Mar 05, 2017
The Finance Ministry has taken refuge under the exemption clause of section 8(1)(a) of the Act to deny the information.
Sat, Mar 04, 2017
Domestic two-wheelers companies continued with the volume decline in the range of -5% to -6% YoY in February 2017 except Royal Enfield.
Fri, Mar 03, 2017
The Income Tax Department on Friday warned that those who undertake Benami transactions would invite Rigorous Imprisonment (RI) of up to seven years and such violators would also stand to be charged under the Income Tax Act (I-T Act).
China's technology company LeEco is reported to have fired 85% of its staff in India and may exit from its operations in the country in next few months.
"One of our proposals, on cash holding of Rs 15 lakh or more to be presumed as undisclosed, is under serious consideration of the central government," Justice Pasayat said, adding that on the SIT's recommendation the government has already declared that cash transaction beyond Rs 3 lakh will be treated as illegal and punishable under law.
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.
Teresa John of Nirmal Bang in a report said, “Our earlier estimates had assumed no significant difference between GVA and GDP as both had exhibited a converging trend in the earlier quarters. However, the CSO believes that higher indirect tax collection and lower subsidies have pushed up the indirect tax component of GDP, resulting in divergence between GVA and GDP. “
What is hard to believe in the given GDP numbers was the performance of cash-dominated sectors where analysts expected a significant slowdown post demonetisation, but has seen uptick compared to Q2FY17.
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