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The RBI's announcement on Friday evening that the Rs 2,000 currency note has served its purpose and thus will be withdrawn from circulation left social media platforms in splits, with a string of memes doing rounds on microblogging website Twitter.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BREAKING | Rs 2,000 note to be withdrawn: The RBI will start withdrawing 2,000-rupee notes from circulation.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
Fri, Dec 30, 2016
From voluntary disclosures to forced restrictions, this year saw many initiatives by the government as they tried to curtail black money usage in India.
Post-demonetisation, e-wallet or mobile-wallets (m-wallet) started gaining momentum due to the severe cash crunch on account of 86% of currency being made illegal overnight.
Key Indian equity market indices opened in the green on Friday even as investors await any new government announcement as the deadline to deposit old notes draws to a close.
As many as 60 lakh individuals and firms have made large deposits totalling an astonishing Rs 7 lakh crore in old notes, top government officials said today while warning that every penny of tax will be extracted as the black money does not become white by merely putting it in banks.
Thu, Dec 29, 2016
"They also deliver greater tax compliance," Modi added.
"It all depends on the chemistry between the finance minister and the governor".
Just two days before the deadline of depositing old notes in banks, Jaitley hailed the whole demonetisation move.
The ordinance has been brought to cancel the validity of these old notes.
Average balance in a Paytm wallet since demonetisation drive that began on November 8, 2016 has been around Rs 59.
The monetary policy regulator also refused to give any details about the time it will take to replenish the currency notes.
Jaitley said the rabi sowing is 6.3% higher than last year.
The government on December 16, had announced that the second Income Disclosure Scheme (IDS II) will run till March 31.
Prime Minister Narendra Modi is likely to address the nation at 7.30 pm on December 31, 2016, sources told Zee Business.
Wed, Dec 28, 2016
Naidu also said things were moving "very positively" for the digital economy.
Cabinet on Wedneday passed an Ordinance making it illegal for any citizen to keep demonetised notes of Rs 500 and Rs 1000 in their possession.
Private sector steel major Tata Steel on Tuesday said demonetisation has impacted its business, but exuded confidence that the situation would improve soon.
In an attempt to put an end to the liability of the government and the Reserve Bank of India (RBI) on the demonetised high value notes, the government is likely to come up with an ordinance before the Union Cabinet on Wednesday, PTI reported on Tuesday.
Tue, Dec 27, 2016
The market is so large that other platforms like the mobile wallets from Paytm and others can still make a large profitable business.
the mobile payment transaction volume in India is likely to grow at a CAGR of over 130%.
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