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Demonetisation

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

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

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The RBI's announcement on Friday evening that the Rs 2,000 currency note has served its purpose and thus will be withdrawn from circulation left social media platforms in splits, with a string of memes doing rounds on microblogging website Twitter.

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

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

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BREAKING | Rs 2,000 note to be withdrawn: The RBI will start withdrawing 2,000-rupee notes from circulation.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.

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

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

Mon, Mar 20, 2023

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

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DIA authorised to get blackmoney-related details from FIU

DIA authorised to get blackmoney-related details from FIU

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.

Note ban punches holes in Q3 results; Cos hopeful of 'gains'

Note ban punches holes in Q3 results; Cos hopeful of 'gains'

Sun, Feb 19, 2017

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.

Banks look for insurance as cyber threats increase

Banks look for insurance as cyber threats increase

Sun, Feb 19, 2017

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.

Demonetisation unnecessarily demonised: Aditya Puri

Demonetisation unnecessarily demonised: Aditya Puri

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.

Note ban can't alone curb black money accumulation: Rangarajan

Note ban can't alone curb black money accumulation: Rangarajan

Sat, Feb 18, 2017

"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.

Demonetisation idea itself is wrong, don't blame execution, says Rajiv Bajaj

Demonetisation idea itself is wrong, don't blame execution, says Rajiv Bajaj

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.

Demonetisation to slow down digital ad spends in 2017

Demonetisation to slow down digital ad spends in 2017

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

Vijay Shekhar justifies using PM Modi's picture to sell Paytm

Vijay Shekhar justifies using PM Modi's picture to sell Paytm

Thu, Feb 16, 2017

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.

Demonetisation shaves of 2% of ad spends in 2016: Report

Demonetisation shaves of 2% of ad spends in 2016: Report

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.

SpiceJet's net profit plummets 24% in Q3

SpiceJet's net profit plummets 24% in Q3

Tue, Feb 14, 2017

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.

Two-wheelers demand drops by 5% in Q3FY17; rural demand to revive sales

Two-wheelers demand drops by 5% in Q3FY17; rural demand to revive sales

Tue, Feb 14, 2017

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.

Over 5.27 lakh taxpayers respond to IT department's 'Operation Clean Money '

Over 5.27 lakh taxpayers respond to IT department's 'Operation Clean Money '

Tue, Feb 14, 2017

"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.

Consumer price inflation set to see upside pressure: Crisil

Consumer price inflation set to see upside pressure: Crisil

Tue, Feb 14, 2017

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.

Expert views: Retail inflation cools to five-year low of 3.17% in January

Expert views: Retail inflation cools to five-year low of 3.17% in January

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.

Indian smartphone market grew 5.2% in 2016: IDC

Indian smartphone market grew 5.2% in 2016: IDC

Mon, Feb 13, 2017

International Data Corporation on Monday said that India recorded a marginal 5.2% annual growth in smartphone market in 2016.

Britannia swats demonetisation woes; net profit up 5% in October-December

Britannia swats demonetisation woes; net profit up 5% in October-December

Mon, Feb 13, 2017

Britannia Industries on Monday reported 4.6% jump in the consolidated net profit for the third quarter of fiscal year 2016-17 (FY17).

Sunteck Realty posts four-fold leap in net profit for October-December 2016

Sunteck Realty posts four-fold leap in net profit for October-December 2016

Mon, Feb 13, 2017

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.

Note ban negative for auto asset backed loan in short-term: Moody's

Note ban negative for auto asset backed loan in short-term: Moody's

Mon, Feb 13, 2017

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 asks FM Jaitley to cut indirect taxes immediately

Chidambaram asks FM Jaitley to cut indirect taxes immediately

Mon, Feb 13, 2017

Chidambaram said Finance Minister Arun Jaitley missed an opportunity at reviving the economy hit by demonetisation.

Demonetisation 'biggest scam of 2016': Chidambaram

Demonetisation 'biggest scam of 2016': Chidambaram

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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