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The RBI's announcement on Friday evening that the Rs 2,000 currency note has served its purpose and thus will be withdrawn from circulation left social media platforms in splits, with a string of memes doing rounds on microblogging website Twitter.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BREAKING | Rs 2,000 note to be withdrawn: The RBI will start withdrawing 2,000-rupee notes from circulation.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 12, 2017
"We have always seen maximum security in all our IT systems. We are now considering to avail cyber insurance covers for our customers," SBI managing director Rajnish Kumar told PTI here.
"The decline in IIP was partly owing to base effects, but mostly by demonetisation-led production contraction, especially in automobile production," Kotak Institutional Equities said in a research note.
Sat, Feb 11, 2017
Finally iOS users can now send and receive money via BHIM app. They just have to download the app through App Store by searching ‘BHIM NPCI app’ . After installing, the icon will appear on your iPhone. However, BHIM does not work on the non-cellular iPAD’s.
"There are tens of thousands of bank branches and 4,000 currency chests. We need to be careful and try that this is a number which is not a mere estimate but a verified number both physically and in the accounting sense," Patel added when asked about the estimated amount of old currency notes that have come back.
While maintaining a status quo in the sixth bi-monthly monetary policy, RBI has said, "The Committee believes that the environment for timely transmission of policy rates to banks lending rates will be considerably improved if three key measures tackled well."
"They (government) made it so difficult for Rajan to continue and, in retrospect it appears, one of the reason he was made to leave. They wanted to demonetise currency and Raghu was opposed it," Chidambaram said.
Fri, Feb 10, 2017
IT services will grow the fastest at 13.8% in 2017, as firms in the banking and securities industry invest more in business processes, specifically in business process outsourcing.
Thu, Feb 09, 2017
India Ratings and Research has projected that post-demonetisation the credit profile of large corporates with revenue of over Rs 250 crore is likely to be neutral with no significant changes in their ratings.
Wed, Feb 08, 2017
PM Modi speaks with regards to the demonetisation move which many claimed was aimed at crippling the finances of his politicial opponents.
The Monetary Policy Committee ‘surprised the markets with a pause,’ was one way India Inc described the Reserve Bank of India’s decision to maintain status quo on interest rates on Wednesday at 6.25%.
The apex bank had imposed the limitation on withdrawal of cash after Prime Minister Narendra Modi on November 8 had announced the ban on Rs 500 and Rs 1000 notes.
In its sixth bi-monthly monetary policy the Reserve Bank of India (RBI) did not cut interest rates for the fifth month in a row on Wednesday.
Here are a few reasons why RBI maintained status quo:
1. RBI expects inflation stickiness as broadly ‘discernible’
While maintaining a status quo on its sixth bi-monthly monetary policy, the Reserve Bank of India (RBI) pointed out on economic factors like Gross Value Added (GVA) growth and Consumer Price Index (CPI) or Retail Inflation growth for the coming fiscal year (FY18).
The Reserve Bank of India in its sixth bi-monthly policy for the financial year 2016-17 on Wednesday decided to keep repo rate unchanged at 6.25%.
The government had given time till December 31 to deposit the old currencies in banks and RBI.
As the Reserve Bank of India (RBI) gears up to declare its sixth bi-monthly policy for the financial year 2016-17, the debate arises as to post demonetisation and the Union Budget FY1,8 what should the RBI do in terms of repo or interest rates.
The company is expected to post a decline in its pure profits margins, analysts say. Nishit Jalan and Hitesh Goel analysts at Kotak Institutional Equities said, “We expect two-wheeler companies to have a tough quarter with EBITDA for Hero MotoCorp declining by 21% on year-on-year basis.”
"The RBI is deciding on this... it is work in progress. I am sure as volumes (of digital transactions) are increasing, the charges will come down," the Finance Minister Arun Jaitley told the Rajya Sabha during the Question Hour.
"As per preliminary reports received from the states, the total area sown under Rabi crops as on January 27, 2017 stood at 637.34 lakh hectares as compared to 600.02 lakh hectares in the corresponding period last year, indicating no significant impact of demonetisation on Rabi sowing," said a ministry statement.
Tue, Feb 07, 2017
Prime Minister Narendra Modi on Tuesday defended his decision to abolish high denomination bank notes that has left the economy reeling, calling it a "fight" for the poor.
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