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The RBI's announcement on Friday evening that the Rs 2,000 currency note has served its purpose and thus will be withdrawn from circulation left social media platforms in splits, with a string of memes doing rounds on microblogging website Twitter.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BREAKING | Rs 2,000 note to be withdrawn: The RBI will start withdrawing 2,000-rupee notes from circulation.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
Thu, Jan 05, 2017
MobiKwik also announced that it is investing over Rs 50 crore in setting up new offices and will be hiring over 1,000 employees.
"We expect GDP to grow 5.0% in the October- December quarter and 6.0% in the January-March quarter, about 2 percentage points lower than we had expected before the demonetisation was announced," HSBC said in a research note.
RBI said, "We would like to clarify that the periodical Specified Bank Notes (SBN) figures released by us were based on aggregation of accounting entries done at the large no of Currency Chests all over the country. Now that the Scheme has come to an end on December 30, 2016, these figures would need to be reconciled with the physical cash balances to eliminate accounting errors/ possible double counts etc."
After all leading banks lowered their home loan rates, real estate developers are now expecting further rate cuts in order to boost demand for housing.
In conversation with Chairman of Vedanta, Anil Agarwal, Manoj Dharra talks about expectations from Budget 2017, Vedanta's performance impact due to demonetisation.
While automobile companies battling with demonetisation at the end of 2016 till currently, there are other roadblocks such as GST, emission norms, etc. which can bring the auto industry to grinding halt.
Wed, Jan 04, 2017
Finance Minister Arun Jaitley on Wednesday expressed confidence that direct and indirect tax mop-up will surpass Budget estimate of Rs 16.3 lakh crore by March-end.
Government is expected to meet the fiscal deficit target of 3.5% of GDP in the current financial year, despite recent demonetisation move and potential delay in roll out of the Goods and Services Tax (GST), says a report.
For the consumer goods sector as a whole, sales are down a whopping 40-70%, according to analysts.
Tractor sales grew by a large 9%, while pick-ups grew by 14% year-on-year despite demonetisation
Tue, Jan 03, 2017
Industrialists on Tuesday expressed their concerns about the revival of the economy post demonetisation in a closed-door meeting with Union Coal Minister Piyush Goyal in Kolkata.
The minister met the country's top industrialists at the CII national council meeting.
The banking sector has lowered their ad spends in the two months since demonetisation, says Swamy.
Two-wheeler sales, specially those of motorcycles, have taken a beating in the aftermath of demonetisation as demand from the widely cash-based rural market nosedived.
With parent Suzuki's Gujarat plant set for commissioning later this month, the country's largest carmaker Maruti Suzuki India (MSI) expects to significantly reduce the waiting period for its high selling models Vitara Brezza and Baleno.
With the government pushing the use of UPI, Paytm has added the UPI feature on its app to enable users to transfer money to their digital wallets.
While many car companies posted a decline in car sales in December, which signifies the impact of demonetisation hitting the sales during the month.
Myntra's ‘biggest fashion sale of the country' which began on January 3 will last till January 5 and is the fifth edition of Myntra’s ‘End of Reason sale’ and has nearly 3.5 lakh products up for grabs at up to 80% discount.
Mon, Jan 02, 2017
In spite of a smooth transition to a new inflation-targeting mechanism, crude price rearing its ugly head is a grim reminder that it will be a tough job ahead to keep retail price increase at the 2016 level of around 5 %.
It is no mean achievement when Indian economy flexed its muscles in 2016 and briefly nosed ahead of Britain -- its once colonial master.
India's manufacturing PMI (purchase manager's index) fell in December 2016 as demonetisation took its toll on the economy.
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