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Rs 7,755 crore worth of withdrawn Rs 2,000 banknotes still in circulation

Rs 7,755 crore worth of withdrawn Rs 2,000 banknotes still in circulation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The RBI's announcement on Friday evening that the Rs 2,000 currency note has served its purpose and thus will be withdrawn from circulation left social media platforms in splits, with a string of memes doing rounds on microblogging website Twitter.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BREAKING | Rs 2,000 note to be withdrawn: The RBI will start withdrawing 2,000-rupee notes from circulation.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.

TRENDING NOW

Third Quarter Results: NBFCs likely to offset demonetisation impact

Third Quarter Results: NBFCs likely to offset demonetisation impact

Wed, Jan 11, 2017

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.”

From iPhone to demonetisation: 10 things Arun Jaitley said at Vibrant Gujarat

From iPhone to demonetisation: 10 things Arun Jaitley said at Vibrant Gujarat

Wed, Jan 11, 2017

With a kick-start of Vibrant Gujarat Global Summit on January 10, on the second day of the event Finance Minister Arun Jaitley spoke about the country's economy and situation post demonetisation. On Tuesday, Prime Minister Narendra Modi had inaugrated the Summit.

Demonetisation: Short term pain may outweigh Indian economy's long term gains

Demonetisation: Short term pain may outweigh Indian economy's long term gains

Wed, Jan 11, 2017

Dan Martin, Senior Analysts of Fitch Ratings said, “The impact on the economy will increase the longer the disruption continues, but Fitch has already revised India's GDP growth forecast for FY17 to 6.9% from 7.4%.”

Demonetisation impact: World Bank drops India's growth rate to 7%

Demonetisation impact: World Bank drops India's growth rate to 7%

Wed, Jan 11, 2017

Infrastructure spending should improve the business climate and attract investment in the near-term.

Note Ban Impact: Corporate earnings to dip to 4% in third quarter

Note Ban Impact: Corporate earnings to dip to 4% in third quarter

Tue, Jan 10, 2017

After recording an average revenue growth of 6.3% for three consecutive quarters, corporate earnings for key sectors will likely dip to 4% for the October-December period of 2016-17, owing to the Government's demonetisation drive, said a Crisil report.

'Used car sales dip 42% in November post notes ban, recover in December'

'Used car sales dip 42% in November post notes ban, recover in December'

Tue, Jan 10, 2017

Demonetisation led to over 42% drop in used car sales volumes in November as customers postponed purchases but the organised segment of the trade stands to gain in the long-term from the junking of old Rs 500 and Rs 1,000 banknotes, according to a study.

Enquiries for home loans are now gaining momentum: Sevantika Bhandari, DHFL

Enquiries for home loans are now gaining momentum: Sevantika Bhandari, DHFL

Tue, Jan 10, 2017

With home loan interest rates falling to an all time low DHFL is looking more people to their buying decision.

Board recommended note ban after govt advice: RBI to Parliamentary panel

Board recommended note ban after govt advice: RBI to Parliamentary panel

Tue, Jan 10, 2017

Contrary to popular belief, it was the Government which had "advised" the Reserve Bank to junk Rs 500/1000 notes on November 7 and the board of the central bank the very next day recommended the demonetisation.

India Inc's fourth quarter revenue growth to remain under pressure

India Inc's fourth quarter revenue growth to remain under pressure

Tue, Jan 10, 2017

Prasad Koparkar, Senior Director, CRISIL Research: “Despite a favourable monsoon and lower borrowing costs, we expect key consumption-driven sectors such as automobiles, telecom services and FMCG to record the slowest growth in two years."

Demonetisation: Residential property sales in Mumbai region fall over 50%

Demonetisation: Residential property sales in Mumbai region fall over 50%

Tue, Jan 10, 2017

Residential and office segment of Mumbai Metropolitan Region (MMR) have recorded worst fall in the second half (H2) of 2016 on the back of the government's demonetisation drive and other economic events resulting in fall in sales volume and new launches in the fourth quarter (Q4) of last year, sa

Rs 25,000 crore of cash moved to digital since Nov 8: SBI

Rs 25,000 crore of cash moved to digital since Nov 8: SBI

Tue, Jan 10, 2017

Other sectors like textile, wholesale segment, gems and jewellery sector were also hit with the declining sales.

Demonetisation: Residential market witnesses worst fall in H2 2016, says Knight Frank India

Demonetisation: Residential market witnesses worst fall in H2 2016, says Knight Frank India

Tue, Jan 10, 2017

Residential market has witnessed a decline in the second half (H2) of 2016 on the back of the government's demonetisation move resulting in fall in sales volume and new launches in the fourth quarter (Q4) of 2016, said a latest report by Knight Frank India.

India at exciting but challenging time: RBI Deputy Governor Acharya

India at exciting but challenging time: RBI Deputy Governor Acharya

Tue, Jan 10, 2017

Acharya will be in charge of monetary policy, foreign exchange and market operations, as well as research and statistics.

Demonetisation: Rs 80,000 crore of loans repaid in cash since November 8

Demonetisation: Rs 80,000 crore of loans repaid in cash since November 8

Tue, Jan 10, 2017

Since November 9, more than Rs 10,700 crore cash was deposited in different bank accounts in North Eastern states.

Mercedes retains top slot despite marginal fall in sales

Mercedes retains top slot despite marginal fall in sales

Tue, Jan 10, 2017

In spite of a marginal fall in sales due to ban on diesel vehicles for most of the year and demonetisation, world's largest luxury carmaker Mercedes could retain its foothold in domestic market for the second year in a row by selling over 13,000 units in 2016.

December car sales was the biggest fall since April 2014: SIAM

December car sales was the biggest fall since April 2014: SIAM

Tue, Jan 10, 2017

December two-wheeler sales saw the biggest fall ever, said Vishnu Mathur of SIAM.

Reforms in India to boost medium term growth: Moody's

Reforms in India to boost medium term growth: Moody's

Tue, Jan 10, 2017

In a statement, Moody`s Investors Service said the capacity of governments to implement measures and the effectiveness of policies in achieving the respective governments` objectives would shape the sovereigns` credit profiles over the coming year.

Citi lowers India's GDP growth forecast to 6.8% for 2016-17

Citi lowers India's GDP growth forecast to 6.8% for 2016-17

Mon, Jan 09, 2017

Global brokerage Citigroup has lowered India's growth forecast to 6.8% for this fiscal from 7.2% earlier, as cash crunch has affected pick-up in consumption while uncertainty around demonetisation may further delay any recovery in private investments.

HSBC pegs India's GDP growth at 6.3% in 2016-17 on note ban pains

HSBC pegs India's GDP growth at 6.3% in 2016-17 on note ban pains

Mon, Jan 09, 2017

Foreign brokerage HSBC on Monday projected sharply lower growth numbers for the year at 6.3%, way lower than the official CSO estimate of 7.1% for 2016-17.

Demonetisation will have adverse effect on GDP: Manmohan Singh

Demonetisation will have adverse effect on GDP: Manmohan Singh

Mon, Jan 09, 2017

Manmohan Singh has been highly critical of demonetisation decision and has predicted a 2% drop in the country's GDP due to it.

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