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The RBI's announcement on Friday evening that the Rs 2,000 currency note has served its purpose and thus will be withdrawn from circulation left social media platforms in splits, with a string of memes doing rounds on microblogging website Twitter.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BREAKING | Rs 2,000 note to be withdrawn: The RBI will start withdrawing 2,000-rupee notes from circulation.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
Tue, Jan 17, 2017
The study pointed out that high denomination currency withdrawal is not without some inherent problems.
Domestic mobile wallet major MobiKwik on Tuesday announced that it registered 10 times growth within the past week in transactions from the oil and gas sector.
The sales volume of fashion and lifestyle retailer Future Retail registered a boost of 20% after demonetisation, a report by The Times of India said, quoting CEO Kishore Biyani.
Already, 19.5 lakh LPG connections has been release so far.
Around 29% believe that global economic growth would pick up in 2017.
Mon, Jan 16, 2017
A major reason for people to order grocery products online was the cash free transactions.
The second largest credit card player SBI Card on Monday said post-noteban, the total spends on its cards have increased by 25-30%, despite fall in certain segments like fuel, jewellery and other discretionary spending.
The International Monetary Fund (IMF) cut India's growth forecast for the current financial year (FY17) by 1% and cut it by 0.4% for the next fiscal year. The reason for this is primarily due to the demonetisation move taken by the government in November 2016.
Credit growth of United Bank of India (UBI) at the end of financial year 2016-17 (FY17) will be as low as 7-8% due to demonetisation impact, its MD and CEO P Bajaj said.
India's current account deficit (CAD) is expected to be around 1.3% of GDP in 2017 as against a deficit of 0.8% in 2016, says a report.
Notwithstanding demonetisation, Indian consumers are the most optimistic in the Asia Pacific region and their outlook on economy and stock market showed highest levels of confidence, says a report.
The hike in the cash withdrawal limit also comes ahead of the presentation of the annual budget on February 1.
The government is likely to achieve its fiscal deficit target of 3.5% of GDP in the current fiscal but higher infrastructure spending will limit the room to reduce it further to 3% in 2017-18, Moody's said on Monday.
Luxury cars priced under Rs 25 lakh saw a over 230% growth in sales in December compared to the same month last year.
Six days after the demonetisation, the Centre had abruptly overturned its decision to permit note exchanges.
Wholesale Price index (WPI) or Wholesale inflation rose to 3.39% (provisional) for the month of December, 2016 (over December, 2015) as compared to 3.15% (provisional) for the previous month and -1.06% during the corresponding month of the previous year, said Ministry of Commerce and Industry.
This time, the wholesale inflation numbers will be crucial as it will give a clear picture of impact of demonetisation.
Sun, Jan 15, 2017
The Finance Ministry is likely to finalise capital infusion plan for public sector banks (PSBs) this week based on the request of various lenders which have been impacted by demonetisation amid rising bad loans.
Property market, long considered a black money safe haven, seems to have taken a big hit from demonetisation, with developers seeing their sales drop by about 50 % in the last three months and now pinning their hopes on buyers coming to market with 'white money'.
Industry chamber Assocham on Sunday appealed to political parties to ensure that the Union Budget for fiscal 2017-18 to be presented to Parliament on February 1 aids the revival of economic sentiment at a time of depressed demand and investment.
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