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The RBI's announcement on Friday evening that the Rs 2,000 currency note has served its purpose and thus will be withdrawn from circulation left social media platforms in splits, with a string of memes doing rounds on microblogging website Twitter.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BREAKING | Rs 2,000 note to be withdrawn: The RBI will start withdrawing 2,000-rupee notes from circulation.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, Jan 29, 2017
Himalya International Ltd, a diversified food processing company, today said the "tumultuous phase" of demonetisation did not have any impact on the firm as it posted an 80 per cent growth in the December quarter against the corresponding period a year ago.
To plug tax loopholes, the I-T department will use Big Data analytics to track down evaders by collecting information such as common address, mobile number and e-mail to establish relationship between their multiple PANs.
The Reserve Bank is expected to extend the deadline for asset quality review (AQR) of lenders by a few months because of the unusual situation in the financial sector following demonetisation, bankers said.
Foreign investors have pulled out a little over Rs 5,600 crore from the Indian capital market so far this month, concerned about "lower prospects" of economic growth compared with other emerging markets.
Sat, Jan 28, 2017
Larsen & Toubro (L&T), which today reported a 38.85 % jump in its consolidated net profit at Rs 972 crore for the December quarter, said the government's "cashless economy" efforts have caused "disruption" and its impact on business is yet to be assessed.
Prime Minister Narendra Modi on Saturday said India would continue moving towards digital transactions to make the country a less cash society -- an initiative following the spiking of old 500 and 1,000 rupee notes.
Fri, Jan 27, 2017
IT companies expect the government to announce support for research and development (R&D) practices, Digital India, tax rebates and concessions for new-age technological innovations, among others in Budget 2017.
Analysts believe that this Union Budget 2017 will focus on reviving infrastructure and housing sector to offset the impact of demonetisation.
India's nominal rural agricultural wages growth rises to 7.3% in November on the back of hike in minimum wages announced by the government in September last year.
Budget 2017 will be based on five key themes right from reviving the capex cycle, rural economy to creating jobs.
111 crore out of 125 crore Indians now have Aadhaar numbers, Ravi Shankar Prasad, Minister of Electronics & IT and Law & Justice said in New Delhi today.
Issam Bachaalani, Managing Director at Colgate-Palmolive (India) said, “In the awake of the liquidity crunch during the quarter, we took proactive measures to support our business partners to ensure ease of business. We extended credit to our customers, provided additional incentives, accelerated processing of trade claims and advanced payments to our supply chain partners to address liquidity issues.”
Crisil expects government to announce supportive policies sectors in Budget 2017 to create jobs.
Vikas Oberoi, Chairman & Managing Director, Oberoi Realty Limited said, "While initially demonetisation did its short-term consequences, we are confident that the sales volume will be more than restored in coming quarters of 2017."
According to Fitch, small auto loan borrowers have been affected the most but that would not impact credit ratings as there are sufficient external credit enhancement to cover the likely short-term impact on the lenders rated by it.
Thu, Jan 26, 2017
The Government of India may give a second chance to citizens of the country to deposit old currency notes of Rs 500 and Rs 1,000.
Unilever has reported below estimated sales growth for the fourth quarter (Q4) of 2016 in India and Brazil.
After taking a demonetisation hit, fast moving consumer goods (FMCG) companies are pinning hopes on a growth oriented Budget to see a revival in consumer confidence and create demand both in urban and rural markets.
More than 83 million smartphones sold in India in 2016 were 'Made in India'.
In Q4 2016, 3 out of 4 smartphones sold in the country were manufactured domestically, a Counterpoint Research report said.
Post demonetisation, the Income Tax department has started the process of engaging private entities to match the data with I-T return or other information of assessees.
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