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Demonetisation

Rs 7,755 crore worth of withdrawn Rs 2,000 banknotes still in circulation

Rs 7,755 crore worth of withdrawn Rs 2,000 banknotes still in circulation

Mon, Jun 03, 2024

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.

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The RBI's announcement on Friday evening that the Rs 2,000 currency note has served its purpose and thus will be withdrawn from circulation left social media platforms in splits, with a string of memes doing rounds on microblogging website Twitter.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BREAKING | Rs 2,000 note to be withdrawn: The RBI will start withdrawing 2,000-rupee notes from circulation.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

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Toyota sees flat sales in India this year on note ban blues

Toyota sees flat sales in India this year on note ban blues

Sun, Jan 22, 2017

Japanese carmaker Toyota is expecting its vehicle sales in India to remain flat during the current year mainly on account of uncertainty in the market post demonetisation.

PayUmoney isn't shutting down; read the full story

PayUmoney isn't shutting down; read the full story

Fri, Jan 20, 2017

“ Our communication to consumers has been totally misquoted. We are in process of upgrading wallet backend operations and hence temporarily suspended load functionality only for users to avoid customer service issues. The same will be resumed shortly once backend is upgraded. Users can continue to use all other functions such as purchase, withdraw money etc," Jitendra Gupta, MD, PayUIndia.

Govt pressed ahead with demonetisation despite concerns, RBI tells parliament

Govt pressed ahead with demonetisation despite concerns, RBI tells parliament

Fri, Jan 20, 2017

The central bank in a writtenn testimony to the parliament said that they had warned the government of the "possible inconvenience to the public for some time".

Demonetisation: 70% of the notes will be remonetised by February-end

Demonetisation: 70% of the notes will be remonetised by February-end

Fri, Jan 20, 2017

Reserve Bank of India (RBI) is currently printing around 200 crore notes a day. This means that the remonetisation efforts will be 70% complete by the end of February 2017.

Demonetisation is a good move for long term growth: Adi Godrej

Demonetisation is a good move for long term growth: Adi Godrej

Fri, Jan 20, 2017

In conversation with Manoj Dharra, Chairman of Godrej group Adi Godrej said that demonetisation will bring benefit in long term in longe term and ones GST is implemented he expects double digit growth in India.Ttaking about the upcoming budget 2017, he expects government can lower direct taxes and there will be growth oriented policies.

Digitisation to ensure people pay taxes, says Paytm chief

Digitisation to ensure people pay taxes, says Paytm chief

Fri, Jan 20, 2017

The demonetisation came into play and people had to come in and deposit the money or else it would go waste, he said.

India to be a key target for cyber criminals post demonetisation

India to be a key target for cyber criminals post demonetisation

Thu, Jan 19, 2017

Security has mobile wallets and point-of-sales (POS) devices has been coming under serious attacks post demonetisation.

Rising raw material prices to eat into Q3 revenues of automobile companies

Rising raw material prices to eat into Q3 revenues of automobile companies

Thu, Jan 19, 2017

The rising cost of raw materials had put pressures on the balance sheets of automobile companies, as many chose to bear it themselves with demonetisation hitting sales.

Protectionist trade policies under Trump may have lesser impact on India: Mark Mobius

Protectionist trade policies under Trump may have lesser impact on India: Mark Mobius

Thu, Jan 19, 2017

Investment Guru Mark Mobius of Franklin Templeton believes that US President Elect Donald Trump's protectionist trade policies are a great cause of concern for emerging markets. He, however, said that such policies may have a lesser impact on rather closed economies like India.

In first address, Urjit Patel asks staff to guard RBI reputation

In first address, Urjit Patel asks staff to guard RBI reputation

Thu, Jan 19, 2017

During the 50-day demonetisation period, the RBI faced flak for numerous flip-flops over currency exchange norms.

Congress demands RBI Governor Urjit Patel's resignation, holds protests at RBI offices

Congress demands RBI Governor Urjit Patel's resignation, holds protests at RBI offices

Wed, Jan 18, 2017

The Congress on Wednesday held nation-wide protests against "poor implementation" of demonetisation and protested RBI offices in different state capitals demanding restoration of the apex bank`s autonomy and resignation of Reserve Bank of India (RBI) Governor Urjit Patel.

Indian companies spent Rs 1.93 lakh crore on business travel in 2015

Indian companies spent Rs 1.93 lakh crore on business travel in 2015

Wed, Jan 18, 2017

Highlights - Top 100 Indian companies spent Rs 20,000 crore on business travel in FY15 - India to be one of the fastest growing countries in business travel spends in the world. - Indian business travel market to touch Rs 3 lakh crore by 2019

India's GDP growth to drop, but rebound likely in second half of 2017: Nomura

India's GDP growth to drop, but rebound likely in second half of 2017: Nomura

Wed, Jan 18, 2017

India's growth numbers are likely to slide in the next two quarters, but a sharp rebound is expected in the second half (H2) of 2017 as the demonetisation impact will be transitory and not long lasting, says a Nomura report.

RBI may go for 25 basis points rate cut on February 8, in April: BofA-ML

RBI may go for 25 basis points rate cut on February 8, in April: BofA-ML

Wed, Jan 18, 2017

The Reserve Bank of India (RBI) is expected to go in for a 25 basis points (bps) rate cut at its next monetary policy meet on February 8 -- as also in April -- says a Bank of America Merrill Lynch (BofA-ML) report.

India's cash crunch seen biting into economic growth- Reuters poll

India's cash crunch seen biting into economic growth- Reuters poll

Wed, Jan 18, 2017

Inflation hit a two-year low in December, with consumer prices rising 3.41%, well below the RBI`s near-term target of 5% by March 2017.

RBI Guv Urjit Patel to appear before parliamentary panel today

RBI Guv Urjit Patel to appear before parliamentary panel today

Wed, Jan 18, 2017

On December 30, the PAC had sent 10 questions to Patel where the parliamentary panel has asked the RBI Governor why he should not be prosecuted.

Wealth creation must for wealth distribution to happen: Mukesh Ambani

Wealth creation must for wealth distribution to happen: Mukesh Ambani

Wed, Jan 18, 2017

Ambani said one needs to see in terms of how humanity progresses and how the society progresses.

India, others should continue medium-term plans to reduce public debt, deficit: IMF

India, others should continue medium-term plans to reduce public debt, deficit: IMF

Tue, Jan 17, 2017

Countries with higher public debt levels like India should continue to implement their medium-term plans to reduce debt and deficits, an IMF official has said.

EPFO pensioners can give digital life certificate till February 28

EPFO pensioners can give digital life certificate till February 28

Tue, Jan 17, 2017

Retirement fund body EPFO has extended the deadline for submitting digital life certificate by its over 50 lakh pensioners till February 28 to help them get their pension account linked with Aadhaar.

Note ban to benefit jewellery sector in long run: Industry

Note ban to benefit jewellery sector in long run: Industry

Tue, Jan 17, 2017

The jewellery industry, which suffered and saw about 80% drop in demand following the demonetisation, is slowly recovering, although it may take over a year for things to become normal, market experts said.

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