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"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.

Rs 70,000 crore black money detected so far: Justice Pasayat

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.

To discourage cash transactions, HDFC Bank & others begin minimum levy of Rs 150 on cash deposits & withdrawals

Teresa John of Nirmal Bang in a report&nbsp;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. “

Gap between India's GDP and GVA widens further

What is&nbsp;hard to believe in the given&nbsp;GDP numbers was&nbsp;the performance of cash-dominated sectors where analysts expected a significant slowdown post demonetisation, but has seen uptick compared to Q2FY17.&nbsp;

GDP numbers: How did cash-dominated sectors perform so well despite demonetisation? 

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.&nbsp;

Banks look to charge withdrawals as cash crunch eases

HDFC Bank in one of its report said, “With the surge in deposits growth from 9.8% in 1H-FY17 to around 13% in 2H-FY17, commercial banks in India are at the moment flush with liquidity. After a spurt in deposits post-demonetisation, there is now a trend-reversal underway.”

RBI data show that Indians are rushing to withdraw cash as demonetisation pain eases 

Progress on the pending Goods and Services Tax (GST) reform and Finance Minister Arun Jaitley's 2017 budget speech to parliament both underscore the government's commitment to reform in the wake of demonetisation.

Demonetisation likely to be credit positive for India, Moody's says

RBI said, "On a year-on-year (y-o-y) basis, aggregate deposits grew at an accelerated pace in all population groups (except in metropolitan areas) and for all bank groups; on the other hand, however, bank credit decelerated across all population groups and bank groups."

Banks deposits soar 16% but credit fails to grow

State Bank of India (SBI)&nbsp;in its report said, “The Q3FY17 estimates are crucial in the sense that it should have given the impact of what happened in the economy during those two months of demonetisation.”

India's Q3 GDP numbers may not have recorded true impact of demonetisation 

The strong data have also reignited the debate about the credibility as well as the quality of the official GDP data.

India's strong GDP data leaves economists scratching their heads

Analysts at India Ratings said, “The operating profitability of cement manufacturers in FY18 to be around the FY16 and estimated FY17 levels, due to stable demand growth, despite increase in input costs.&nbsp;Demand will be backed by an increase in government expenditure.”

Demonetisation may lead to lower growth for cement sector, report says 

About 10 lakh bankers have observed one-day strike across India on Tuesday&nbsp;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.

10 lakh bankers go on strike today; will your salary credit be affected?

Soon after the announcement of the ban on Rs 500 and Rs 1000 notes, the experts and economists, who were expecting GDP around 7.6% revised the numbers to below 7%.&nbsp;

Demonetisation impact: Here's what experts say about India's GDP growth

The management committee was authorised to take the decision on the proposed NPA sale.

Magma Fincorp to sell non-performing assets up to Rs 600 crore

Care Ratings has projected India's&nbsp;residential real estate sector to witness low sales in &nbsp;2017 on back of buyers waiting for more interest rate cut from the Reserve Bank of India (RBI), deferral of house buying decision among IT professionals, among others.

Residential realty likely to witness weak sales, commercial & retail segment to record stable growth in 2017: Care Ratings

The First Advance Estimates of National Income, 2016-17, did not take into account the impact of demonetisation.

CSO to unveil Q3 GDP estimate with note ban impact tomorrow

Apart from demonetisation Pokhriyal further spoke on GST, Textile Minister Smriti Irani and how US President Donald Trump's decision to end the Trans-Pacific Partnership (TPP) is beneficial to them.

&nbsp;

We were having one of the best years of Raymond before demonetisation hit us: Sudhandhu Pokhriyal, Raymond

About nine bank unions of India will go on one-day strike on February 28 this year to protest against the government's anti-people banking reforms.&nbsp;

9 bank unions to observe one-day strike on February 28  

Digital payment can check black money, graft: Modi

During April-December period of the 2016-17 fiscal, Prestige Estates Projects reported over 4 per cent decline in sales bookings at Rs 1,823.1 crore from Rs 1,908.7 crore in the corresponding period of the previous year.

Prestige Q3 sales bookings fall 27% to Rs 429 crore

demonetisation

The Reserve Bank of India said 98.37 per cent of Rs 2000 banknotes have been returned to the banking system since the denomination’s withdrawal in May 2023. Only Rs 5,817 crore worth of notes remain in circulation, though they continue to be legal tender.
 

Rs 2000 note phase-out nearly complete, says RBI; 98% of notes returned to banks — All you need to know

97.82 per cent of the total value of the high-value Rs 2,000 banknotes are back in the banking system by the end of May 2024.

Rs 7,755 crore worth of withdrawn Rs 2,000 banknotes still in circulation

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.

2,000-rupee note: A barrage of memes on social media as RBI presses 'exit' on 2,000 currency bill

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. 

Bye bye, Rs 2,000 banknote! 10 things to know about the bill that has been in circulation for 6 years

The finance minister says banks make assessment of amount and denominational requirements for ATMs on the basis of past usage

Finance Minister Nirmala Sitharaman says govt hasn't stopped banks from filling Rs 2000 notes in ATMs

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Demonetisation

Rs 70,000 crore black money detected so far: Justice Pasayat

To discourage cash transactions, HDFC Bank & others begin minimum levy of Rs 150 on cash deposits & withdrawals

Gap between India's GDP and GVA widens further

GDP numbers: How did cash-dominated sectors perform so well despite demonetisation?

Banks look to charge withdrawals as cash crunch eases

RBI data show that Indians are rushing to withdraw cash as demonetisation pain eases

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