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The RBI's announcement on Friday evening that the Rs 2,000 currency note has served its purpose and thus will be withdrawn from circulation left social media platforms in splits, with a string of memes doing rounds on microblogging website Twitter.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BREAKING | Rs 2,000 note to be withdrawn: The RBI will start withdrawing 2,000-rupee notes from circulation.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 15, 2017
The government`s November 8move last year to demonetise higher-denomination currencies was said to be aimed at tackling the issues of black money and counterfeit notes.
Sat, Jan 14, 2017
The RBI`s employee union in a letter to the governor dated January 13 said it was "painful" the central bank was being criticised despite its staff successfully carrying out the "humongous task" of replacing the old bills.
The letter asked the Governor whether a recent media report, according to which the Finance Ministry had deputed a Joint Secretary-level officer to the RBI to oversee its currency chest operations, is true.
Fri, Jan 13, 2017
Post demonetisation organised retail sector is expected to post low single digit growth with varying impact across different sub-sectors in the October-December quarter of fiscal year 2016-17 (FY17), said India Ratings and Research (Ind-Ra) in its latest report on Friday.
With uncertanity over implementation of GST, rising crude oil prices and the challenging 4% CPI in medium term, Reserve Bank of India (RBI) may cut repo rate for the final time by a 25 basis points (bps) in the February policy, says a report.
Welspun outlined proposed investments of 40 billion rupees ($588 million) in Gujarat during the summit, which ended Friday.
Terming demonetisation as a right long-term decision despite short-term "disruptions", CII President Naushad Forbes has said consumer demand is expected to return to full normalcy in April-June quarter after seeing a 20% fall in the 50-day period after the note ban.
Bookings for Maruti Suzuki have seen a small revival during the month of December and with the Gujarat plant on track it may see a jump in sales soon.
A majority of automobile companies are expected to report weaker earnings during Q3, with the exception of Maruti, Suzuki and Eicher Motors
Many brands have partial deferment of advertising budgets led by postponement of new launches.
Thu, Jan 12, 2017
India's GDP growth numbers are expected to see a decline of 2% in the third and fourth quarters of the current fiscal, as effective currency in circulation has contracted significantly, says an HSBC report.
With states and the Centre still locked in stalemate over control of tax payers, Finance Minister Arun Jaitley today said the issue will be resolved in next few weeks for rollout of the GST regime from April 1.
Wed, Jan 11, 2017
Global financial services major HSBC has set an optimistic benchmark BSE Sensex target at 30,500 for December-end, 2017 saying that structural reforms like demonetisation and GST will boost growth in the long run.
Leading credit information company Transunion Cibil on Wednesday said the demonetisation exercise has affected demand for two-wheelers and consumer durables loans the most.
The Government of India's recent demonetisation decision, which grabbed news headlines across media resulting in cash crunch and chaos across the country last year, was in the making since 2014.
Tata Nano posted the highest month-on-month sales growth among all Tata Motors cars in December.
Fertiliser Minister Ananth Kumar today said he has written to the Finance Minister for Rs 20,000 crore special banking arrangement to provide loan at reasonable rate to cash-starved fertiliser companies.
Finance Minister, Arun Jaitley’s stance on levying income tax stands to be ‘making taxation more reasonable;’ however, this could cost the government Rs 25,000 crore in FY18.
About 66% of Indians surveyed online showed support to prime minister Narendra Modi's demonetisation decision to curb black money, corruption and terrorism into the country, according to Nihilent Analytics.
M B Mahesh, Nischint Chawath and Abhijeet Sakhare of Kotak Institutional Equities said, “Despite challenges in the cash economy, NBFCs will likely deliver stable performance supported by aggressive recovery efforts and regulatory reprieve on NPL classification; a flat qoq loan book will affect NII growth in later quarters.”
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