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The RBI's announcement on Friday evening that the Rs 2,000 currency note has served its purpose and thus will be withdrawn from circulation left social media platforms in splits, with a string of memes doing rounds on microblogging website Twitter.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BREAKING | Rs 2,000 note to be withdrawn: The RBI will start withdrawing 2,000-rupee notes from circulation.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
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.
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%.”
Infrastructure spending should improve the business climate and attract investment in the near-term.
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.
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.
With home loan interest rates falling to an all time low DHFL is looking more people to their buying decision.
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.
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."
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
Other sectors like textile, wholesale segment, gems and jewellery sector were also hit with the declining sales.
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.
Acharya will be in charge of monetary policy, foreign exchange and market operations, as well as research and statistics.
Since November 9, more than Rs 10,700 crore cash was deposited in different bank accounts in North Eastern states.
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 two-wheeler sales saw the biggest fall ever, said Vishnu Mathur of SIAM.
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.
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.
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.
Manmohan Singh has been highly critical of demonetisation decision and has predicted a 2% drop in the country's GDP due to it.
Describing demonetisation as only a "bump", Cisco Executive Chairman John Chambers on Monday said India is well-positioned to maintain gross domestic product (GDP) growth rate of over 7% for the next few years and it should be a "top ally" for the US in the Asia Pacific region.
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