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Demonetisation

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The RBI's announcement on Friday evening that the Rs 2,000 currency note has served its purpose and thus will be withdrawn from circulation left social media platforms in splits, with a string of memes doing rounds on microblogging website Twitter.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BREAKING | Rs 2,000 note to be withdrawn: The RBI will start withdrawing 2,000-rupee notes from circulation.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

Finance Minister Nirmala Sitharaman says govt hasn't stopped banks from filling Rs 2000 notes in ATMs

Finance Minister Nirmala Sitharaman says govt hasn't stopped banks from filling Rs 2000 notes in ATMs

Mon, Mar 20, 2023

The finance minister says banks make assessment of amount and denominational requirements for ATMs on the basis of past usage

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Nasscom urges IT companies to volunteer to assist citizens to go cashless

Nasscom urges IT companies to volunteer to assist citizens to go cashless

Mon, Dec 19, 2016

It asked IT companies to identify and volunteer employees for digital India initiative and to teach citizens on cashless transactions.

Less tax for small traders on digital transactions: Govt

Less tax for small traders on digital transactions: Govt

Mon, Dec 19, 2016

Legislative amendment in this regard would be carried out through the Finance Bill, 2017, the CBDT added.

Notebandi frontlines: Sales fall, anger rises; why the fishing industry can't go cashless

Notebandi frontlines: Sales fall, anger rises; why the fishing industry can't go cashless

Mon, Dec 19, 2016

Gangu Kundaikar is a small-framed, sari-clad woman who rises at 3 a.m. every day, wraps a cloth around her waist so fish do not soil her sari, and takes a rented vehicle to the Malim jetty in Panaji, North Goa, 8 km from her village in one of Indias most prosperous and literate states.

Demonetisation pushes airline traffic growth over 20% in November

Demonetisation pushes airline traffic growth over 20% in November

Mon, Dec 19, 2016

Government's exemption for citizens to buy airline tickets with old currency notes seems to have pushed up passenger traffic in November to 23.10%.

Demonetisation push: Digital payments may grow to $470 billion by 2020

Demonetisation push: Digital payments may grow to $470 billion by 2020

Mon, Dec 19, 2016

A move toward PM Modi's much advocated cashless society could push digital transactions to grow to $470 billion from $190 billion in just 4 years.

New demonetisation diktat: Now amount exceeding Rs 5000 to be deposited only once till December 30

New demonetisation diktat: Now amount exceeding Rs 5000 to be deposited only once till December 30

Mon, Dec 19, 2016

Till now, the Government had allowed citizens to allow as much in their bank accounts.

No-cash November pushes four-fold jump in e-wallet downloads

No-cash November pushes four-fold jump in e-wallet downloads

Mon, Dec 19, 2016

PM Modi's demonetisation move pushed e-wallet app downloads to grow four-fold in the midst of a cash crunch.

Pain before gain for Indian banks after Narendra Modi's cash gamble

Pain before gain for Indian banks after Narendra Modi's cash gamble

Mon, Dec 19, 2016

India`s shock move to abolish high-value banknotes was expected to deliver a windfall to lenders, and banks have indeed seen coffers swell after people deposited Rs 12,40,000 crore ($183 billion) in cash into the system.

Global cues, oil prices to dictate market trend this week: Experts

Global cues, oil prices to dictate market trend this week: Experts

Sun, Dec 18, 2016

Trend in global markets and crude oil prices are expected to set the market trend in the week, while a bit of recovery is likely on the back of attractive valuations, say experts.

Embarrassed, upset over conduct of handful of employees, says Axis Bank's CEO Shikha Sharma

Embarrassed, upset over conduct of handful of employees, says Axis Bank's CEO Shikha Sharma

Sun, Dec 18, 2016

"Embarrassed and upset" over the conduct of a handful of employees bringing the organisation into disrepute, Axis Bank MD and CEO Shikha Sharma said on Sunday the bank has hired KPMG to conduct a forensic audit for enhanced due diligence and building more safeguards.

2017 may remain challenging for job seekers, pay hikes: Experts

2017 may remain challenging for job seekers, pay hikes: Experts

Sun, Dec 18, 2016

After a challenging year amid global headwinds and cash-crunch back home, the job market is heading for yet another gloomy year with employers already on 'wait and watch' mode and pay hikes indicating a weak trend, say experts.

Coal imports may remain weak in December on notes ban, firm prices

Coal imports may remain weak in December on notes ban, firm prices

Sun, Dec 18, 2016

Coal imports, which dropped by 16% to 14 million tonnes (MT) in November, are likely to decline this month as well due to factors like demonetisation and higher prices in global markets.

Political parties can't accept old notes in donation; tax exemption rules unchanged: Arun Jaitley

Political parties can't accept old notes in donation; tax exemption rules unchanged: Arun Jaitley

Sun, Dec 18, 2016

In a bid to clear the air on tax exemption to political parties, Finance Minister Arun Jaitley said on Saturday they can not accept donations in old Rs 500 and Rs 1,000 notes since these bills were junked last month and clarified that there is no new exemption granted.

Even if 15-20% of transactions are cashless, it will be an achievement, says Santosh Kumar Gangwar

Even if 15-20% of transactions are cashless, it will be an achievement, says Santosh Kumar Gangwar

Sun, Dec 18, 2016

Union Minister Santosh Kumar Gangwar has said the government never talked of going 100% cashless, but even if the country achieves 15-20% success in going cashless it will be a big achievement.

Income tax exemption given only to registered political parties subject to certain conditions: CBDT

Income tax exemption given only to registered political parties subject to certain conditions: CBDT

Sat, Dec 17, 2016

After the government announced that political parties depositing old notes post demonetisation will be exempted from income tax, the CBDT issued a clarification on Saturday stating that the exemption from income tax is given to only registered political parties subject to certain conditions which

Axis bank-Noida: ED files money laundering case for forging customer's identity

Axis bank-Noida: ED files money laundering case for forging customer's identity

Sat, Dec 17, 2016

The Enforcement Directorate (ED) has registered a money laundering case in the alleged forging of a customer's identity to conduct huge illegal transactions in an Axis Bank branch in Noida for conversion of black funds into white post demonetisation.

New Notes: RBI mystifies with its mixed-up math

New Notes: RBI mystifies with its mixed-up math

Sat, Dec 17, 2016

Either the Reserve Bank of India (RBI) is uncharacteristically cavalier with the demonetisation-related figures it has given out periodically since November 8 or, more worryingly, its number crunchers are getting their math mixed up.

Uttar Pradesh receives Rs 5,000 crore from RBI to meet cash crunch

Uttar Pradesh receives Rs 5,000 crore from RBI to meet cash crunch

Sat, Dec 17, 2016

The Reserve Bank of India (RBI) on Saturday flew in Rs 5,000 crore in a heavily guarded cargo plane to cash parched Uttar Pradesh (UP), an official said.

Demonetisation was not a hurried decision: Amit Shah

Demonetisation was not a hurried decision: Amit Shah

Sat, Dec 17, 2016

The decision of demonetising higher currency notes was not taken in a hurry, Bharatiya Janata Party (BJP) President Amit Shah has said, adding that the decision was taken in consultation with Reserve Bank of India (RBI).

Deposit in bank acounts of political parties exempt from tax, says Hasmukh Adhia

Deposit in bank acounts of political parties exempt from tax, says Hasmukh Adhia

Sat, Dec 17, 2016

As it levies stiff penalties on unaccounted cash in banks, the government on Friday said political parties depositing old Rs 500 and Rs 1,000 notes in their accounts will be exempt from income tax.

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