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The RBI's announcement on Friday evening that the Rs 2,000 currency note has served its purpose and thus will be withdrawn from circulation left social media platforms in splits, with a string of memes doing rounds on microblogging website Twitter.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BREAKING | Rs 2,000 note to be withdrawn: The RBI will start withdrawing 2,000-rupee notes from circulation.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
Sun, Feb 19, 2017
The move is aimed at arming the DIA with necessary details to act against terror funding and hawala transactions, mainly in Jammu and Kashmir and in the North Eastern states of the country, officials said today.
An analysis of the latest-quarter results of listed firms shows that the government's ambitious exercise of withdrawing old Rs 500/1,000 notes led to adverse impact on businesses across the sectors, though not many have publicly criticised the move and the likes of Rajiv Bajaj are only an exception.
According to insurance industry reports, cyber crimes are growing at 40-50% annually globally. Similarly, global cyber risk insurance premium stood at $ 3.5 billion in 2016, which was only $ 2.5 billion in 2015, amply indicating growing incidents of cyber crimes across the world.
Sat, Feb 18, 2017
"He (Prime Minister Modi) has created transparency and traceability. He has changed the mindset (in such a way that) everybody is going to think twice about going back to their old ways and from what I understand, the conversion to digital has occurred at a pace much faster," Mahindra said at the annual NILF here.
"All this will have an immediate effect on the economy which will be adverse. The long term gains are in terms of reduction in the proportion of pure cash transactions, and a shift to digital mode of payment leading to recording of all transactions and thereby helping to widen tax net," Rangarajan said.
Fri, Feb 17, 2017
Bajaj Auto's MD Rajiv Bajaj has recently said that the government's deomonetisation idea itself is wrong and its execution should not be blamed.
Thu, Feb 16, 2017
While demonetisation has resulted in a slowdown in growth in ad spends on media, the hardest hit is expected to be the digital medium
When Paytm founder Vijay Shekhar Sharma used Prime Minister Narendra Modi as a front page cover on a newspaper for a Paytm advertisement advising people to use the e-wallet, many including political figures criticised the move.
Tue, Feb 14, 2017
Ad spends in India are expected to grow by 10% in 2017 despite the slow start due to impact of demonetisation.
Budget carrier, SpiceJet on Tuesday annouced its third quarter ending December 31 results that reported a fall in net profit of 24.5% to Rs 181.143 crore.
Demand from smaller towns and rural areas is expected to improve post demonetisation in the near term on the back of a healthy rise in income.
"The explanation of cash deposit submitted by the taxpayer is being analysed in the context of nature of business and business profile in the earlier returns of the taxpayer," said the Ministry of Finance.
The fuel component of CPI rose afresh on rising crude oil prices and weaker rupee. Meanwhile, the persistent stickiness in core inflation is contrary to the refrain that demonetisation had materially dented core demand. Core inflation (CPI excluding food) rose to 5.1% in January from 5% in December, the report said.
Mon, Feb 13, 2017
India`s annual consumer price inflation eased to 3.17 % in January, its lowest level in at least five years, helped by a sharp cooling in food prices, government data showed on Monday.
International Data Corporation on Monday said that India recorded a marginal 5.2% annual growth in smartphone market in 2016.
Britannia Industries on Monday reported 4.6% jump in the consolidated net profit for the third quarter of fiscal year 2016-17 (FY17).
Commercial and residential property developer Sunteck Realty has reported 269.25% rise in the consolidated net profit for the third quarter ended on December 31,2016.
Moody's Investors Service on Monday said that the government's demonetisation decision will have negative impact on the performance of Indian auto asset backed loans in the short-term and the effect will last until March.
Chidambaram said Finance Minister Arun Jaitley missed an opportunity at reviving the economy hit by demonetisation.
Sun, Feb 12, 2017
"I am sorry to make the prediction that 2016-17 will end with growth (rate) between 6 and 6.5 per cent, a good one per cent down from the earlier estimate and that means a hit of Rs 1.5 lakh crore on GDP. The GDP this year is Rs 150 lakh crore, so one per cent hit is Rs 1.5 lakh crore," Chidambaram said at a function here today.
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